A note on the stochastic stability of equilibrium in some exchange economies

Building upon recent work of Gintis, we study evolutionary dynamics in an economy with Leontieff preferences and corner endowments for which the equilibrium is completely indeterminate. We exhibit a class of dynamics which selects, via stochastic stability, the equilibrium minimizing the quantities traded.

MoreLess

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

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

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-00442864
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008794962