On the Computation of the Hausdorff Dimension of the Walrasian Economy:Further Notes

C-Rene Dominique

MPRA Paper from University Library of Munich, Germany

Abstract: ABSTRACT: In a recent paper, Dominique (2009) argues that for a Walrasian economy with m consumers and n goods, the equilibrium set of prices becomes a fractal attractor due to continuous destructions and creations of excess demands. The paper also posits that the Hausdorff dimension of the attractor is d = ln (n) / ln (n-1) if there are n copies of sizes (1/(n-1)), but that assumption does not hold. This note revisits the problem, demonstrates that the Walrasian economy is indeed self-similar and recomputes the Hausdorff dimensions of both the attractor and that of a time series of a given market.

Keywords: Fractal Attractors; Contractive Mappings; Self-similarity; Hausdorff Dimension of an Economy; Hausdorff Dimension of Economic Time Series (search for similar items in EconPapers)
JEL-codes: A1 C2 C6 (search for similar items in EconPapers)
Date: 2009-08-09
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