Equilibrium prices in a random exchange economy with dependent agents

This paper presents a model of a Walrasian exchange economy in which the preferences and endowments of the agents are random. Stochastic interaction among the agents is formally described in terms of dependency neighborhoods. The main result is a characterization of the distribution of market-clearing prices in a large economy.

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Year of publication:	2000-04-13
Authors:	Rotar, Vladimir ; Majumdar, Mukul
Published in:	Economic Theory. - Springer. - Vol. 15.2000, 3, p. 531-550
Publisher:	Springer
Subject:	Random preferences and endowment \| Dependent random variables

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: April 23, 1999; revised version: May 6, 1999
Classification:	D50 - General Equilibrium and Disequilibrium. General ; D80 - Information and Uncertainty. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005596610