Some general results on equilibrium prices in large random exchange economies
type: Item
instance of: scholarly article
title: Some general results on equilibrium prices in large random exchange economies
zbMATH Open document ID: 1119.91338
DOI: 10.1023/A:1021088230080
published in: Annals of Operations Research
publication date: 2003-01-27T00:00:00Z
review text: In this paper a sequence of economies is considered where the number n of agents is growing, where the stochastic interaction between agents is described by dependency neighbourhoods and where there are (random) equilibrium price vectors for each economy. Then the paper firstly looks for conditions such that for growing n there is a certain convergence behaviour of the sequence of the mentioned price vectors (asymptotic normality), and secondly an estimation of the convergence rate is given. Examples, full proofs, hints for further investigations and finally remarks about the relations of this paper to a former one [\textit{M. Majumdar} and \textit{V. I. Rotar}, Econ. Theory 15, No. 3, 531--550 (2000; Zbl 1028.91025)] are added.
reviewed by: Alfred Göpfert
Mathematics Subject Classification ID: 91B50
Mathematics Subject Classification ID: 91B24
Mathematics Subject Classification ID: 93E20
Mathematics Subject Classification ID: 91B70
Mathematics Subject Classification ID: 49K45
zbMATH DE Number: 1859487
zbMATH Keywords: exchange economy
zbMATH Keywords: equilibrium prices
zbMATH Keywords: asymptotic normality
zbMATH Keywords: dependency neighbourhood
author: Mukul Majumdar
author: Vladimir Rotar
MaRDI profile type: Publication
full work available at URL: a:1021088230080
OpenAlex ID: W102848097
description: scientific article; zbMATH DE number 1859487