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General equilibrium 1 Random endowments and preferences 1
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Probability of survival in a random exchange economy with dependent agents
Hashimzade, Nigar - In: Economic Theory 21 (2003) 4, pp. 907-912
In this paper I analyze the general equilibrium in a random Walrasian economy. Dependence among agents is introduced in the form of dependency neighborhoods. Under the uncertainty, an agent may fail to survive due to a meager endowment in a particular state (direct effect), as well as due to...
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