Von Neumann’s standard paradigm of a game in extensive form and Kolmogorov’s standard model of a stochastic process both rely on constructing a fixed state space large enough to include all possible future eventualities. This allows a typical singleperson decision problem to be represented...

An extensive literature in economics uses a continuum of random variables to model individual random shocks imposed on a large population. Let H denote the Hilbert space of square-integrable random variables. A key concern is to characterize the family of all H-valued functions that satisfy the...

A mass-economy is one with many, many agents where each agent is negligible and each trading group is also negligible with respect to the mass-economy. Feasible allocations are those which are virtually attainable by trades only among members of coalitions contained in feasible...