A standard macroeconomic specification is that the aggregate economy is directed by a single, smart representative agent using optimal decision rules. This paper explores an alternative conjecture that the dynamic behavior of markets is often better interpreted as the interactions of many...

A standard macroeconomic specification is that the aggregate economy is directed by a single, smart representative agent using optimal decision rules. This paper explores an alternative conjecture--that the dynamic behavior of markets is often better interpreted as the interactions of many...

Anderson & Moore describe a powerful method for solving linear saddle point models. The algorithm has proved useful in a wide array of applications including analyzing linear perfect foresight models, providing initial solutions and asymptotic constraints for nonlinear models. However, many...

Two-sided matching procedures are considered using the stable marriage model. There exist some matching procedures that, in spite of producing unstable matches, have nonetheless survived in practice; other such procedures have failed and been abandoned. The success or failure of these procedures...