A law of large numbers for large economies

DOI10.1007/BF01212011zbMath0852.90034OpenAlexW2157179360MaRDI QIDQ1920960

Harald F. Uhlig

Publication date: 6 August 1996

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/bf01212011

zbMATH Keywords

law of large numbersPettis-integralrandom continuum economy

Mathematics Subject Classification ID

Central limit and other weak theorems (60F05) General equilibrium theory (91B50)

Related Items (27)

Aggregation and the law of large numbers in large economies ⋮ Solving dynamic public insurance games with endogenous agent distributions: theory and computational approximation ⋮ Diversification and equilibrium in securities markets ⋮ Deposit insurance and the coexistence of commercial and shadow banks ⋮ Probabilistic representation of complexity. ⋮ Equilibrium in securities markets with heterogeneous investors and unspanned income risk ⋮ Large extensive form games ⋮ Asset bubbles, entrepreneurial risks, and economic growth ⋮ The equivalence between costly and probabilistic voting models ⋮ Contemporaneous aggregation of linear dynamic models in large economies ⋮ Educated guesses and income distribution ⋮ An abstract law of large numbers ⋮ Large games and the law of large numbers ⋮ Surplus efficiency of ex ante investments in matching markets with nontransferabilities ⋮ Laws of large numbers for dynamical systems with randomly matched individuals ⋮ Bayesian general equilibrium ⋮ A GAME THEORETIC FOUNDATION OF COMPETITIVE EQUILIBRIA WITH ADVERSE SELECTION ⋮ On the observational equivalence of random matching ⋮ The exact law of large numbers via Fubini extension and characterization of insurable risks ⋮ Stock-flow matching ⋮ Information, capital, and organization ⋮ The decomposition of risk in denumerable populations with ex ante identical individuals ⋮ Risk pooling, intermediation efficiency, and the business cycle ⋮ Introduction to sunspots and lotteries ⋮ Lotteries, sunspots, and incentive constraints ⋮ Competitive equilibrium with moral hazard in economies with multiple commodities. ⋮ Informational smallness in rational expectations equilibria.

Cites Work

• The law of large numbers with a continuum of i.i.d. random variables
• Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard
• Implementation in Economies with a Continuum of Agents
• Bank Runs, Deposit Insurance, and Liquidity
• Decomposition and Characterization of Risk with a Continuum of Random Variables
• On Integration in Vector Spaces
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