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On the convergence to Walrasian prices in random matching Edgeworthian economies

A. Pinto, M. Ferreira (), B. Finkenstädt, B. Oliveira and A. Yannacopoulos

Central European Journal of Operations Research, 2012, vol. 20, issue 3, 485-495

Abstract: We show that for a specific class of random matching Edgeworthian economies, the expectation of the limiting equilibrium price coincides with the equilibrium price of the related Walrasian economies. This result extends to the study of economies in the presence of uncertainty within the multi-period Arrow-Debreu model, allowing to understand the dynamics of how beliefs survive and propagate through the market. Copyright Springer-Verlag 2012

Keywords: Random matching economies; Edgeworthian economies; 91B26; 91B50; 91B68 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/s10100-011-0208-5

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Central European Journal of Operations Research is currently edited by Ulrike Leopold-Wildburger

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