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Values of perfectly competitive economies

Sergiu Hart ()

Chapter 57 in Handbook of Game Theory with Economic Applications, 2002, vol. 3, pp 2169-2184 from Elsevier

Abstract: Perfectly competitive economies are economic models with many agents, each of whom is relatively insignificant. This chapter studies the relations between the basic economic concept of competitive (or Walrasian) equilibrium, and the game-theoretic solution concept of value. It includes the classical Value Equivalence Theorem together with its many extensions and generalizations, as well as recent results.

JEL-codes: C (search for similar items in EconPapers)
Date: 2002
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