Interaction and Markets

The state in which economic agents find themselves depend on the states of theother individuals in the economy. Thie dependence may be direct or indirect and involves the network through which agents interact. This paper describes models which lie between polar extremes. On the one hand there is the Walrasian model in which individuals react independently to central price signals and are only linked to each other through those signals.

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Year of publication:	1997
Authors:	Kirman, A.
Institutions:	Association of Southern European Economic Theorists - ASSET
Subject:	LEARNING \| COMMUNICATION \| MARKETS \| GRAPHS

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Series:	ASSET - Instituto De Economia Publica.
Type of publication:	Book / Working Paper
Notes:	69 pages
Classification:	C0 - Mathematical and Quantitative Methods. General ; D0 - Microeconomics. General ; D5 - General Equilibrium and Disequilibrium
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005609605