Interaction and Markets

Alan P. Kirman ()

ASSET - Instituto De Economia Publica from ASSET (Association of Southern European Economic Theorists)

Abstract: The state in which economic agents find themselves depend on the states of theother individuals in the economy. Thie dependence may be direct or indirect and involves the network through which agents interact. This paper describes models which lie between polar extremes. On the one hand there is the Walrasian model in which individuals react independently to central price signals and are only linked to each other through those signals.

Keywords: LEARNING; COMMUNICATION; MARKETS; GRAPHS (search for similar items in EconPapers)
JEL-codes: C0 D0 D5 (search for similar items in EconPapers)
Date: 1997
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Working Paper: Interaction and Markets (1997)
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Persistent link: http://EconPapers.repec.org/RePEc:fth:inecpu:166

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