Equilibrium prices in a random exchange economy with dependent agents

Vladimir Rotar and Mukul Majumdar ()
Additional contact information
Vladimir Rotar: Central Economic-Mathematical Institute, Russian Academy of Sciences, Moscow, RUSSIA
Mukul Majumdar: Department of Economics, 460 Uris Hall, Cornell University, Ithaca, NY 14853-7601, USA

Economic Theory, 2000, vol. 15, issue 3, 550 pages

Abstract: This paper presents a model of a Walrasian exchange economy in which the preferences and endowments of the agents are random. Stochastic interaction among the agents is formally described in terms of dependency neighborhoods. The main result is a characterization of the distribution of market-clearing prices in a large economy.

Keywords: Random preferences and endowment; Dependent random variables. (search for similar items in EconPapers)
JEL-codes: D50 D80 (search for similar items in EconPapers)
Date: 2000-04-13
Note: Received: April 23, 1999; revised version: May 6, 1999
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.de/link/service/journals/00199/papers/0015003/00150531.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:15:y:2000:i:3:p:531-550

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().