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On the convergence to Walrasian prices in random matching Edgeworthian economies
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Pinto, A. A., Ferreira, M., Finkenstädt, Bärbel, Oliveira, B. and Yannacopoulos, A. N. (2012) On the convergence to Walrasian prices in random matching Edgeworthian economies. Central European Journal of Operations Research, Volume 20 (Number 3). pp. 485-495. doi:10.1007/s10100-011-0208-5 ISSN 1435-246X.
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Official URL: http://dx.doi.org/10.1007/s10100-011-0208-5
Abstract
We show that for a specific class of random matching Edgeworthian economies, the expectation of the limiting equilibrium price coincides with the equilibrium price of the related Walrasian economies. This result extends to the study of economies in the presence of uncertainty within the multi-period Arrow-Debreu model, allowing to understand the dynamics of how beliefs survive and propagate through the market.
Item Type: | Journal Article | ||||
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Divisions: | Faculty of Science, Engineering and Medicine > Science > Statistics | ||||
Journal or Publication Title: | Central European Journal of Operations Research | ||||
Publisher: | Springer | ||||
ISSN: | 1435-246X | ||||
Official Date: | September 2012 | ||||
Dates: |
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Volume: | Volume 20 | ||||
Number: | Number 3 | ||||
Page Range: | pp. 485-495 | ||||
DOI: | 10.1007/s10100-011-0208-5 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
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