A note on Herbert Gintis' "Emergence of a Price System from Decentralized Bilateral Exchange"

In two recent contributions, Herbert Gintis introduces agent-based imitation models built upon evolutionary bargaining games where agents use private prices as strategies. He reports surprising convergence results for simulations performed in exchange economies where goods are strict complement. We investigate analyt- ically these results using the notion of stochastic stability.

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Year of publication:	2009-12-31
Authors:	Mandel, Antoine ; Botta, Nicola
Institutions:	HAL

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Extent:	application/pdf
Series:	Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers).
Type of publication:	Book / Working Paper
Language:	English
Notes:	View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00634656
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009369215