Price Formation: General Equilibrium

Sabiou M. Inoua () and Vernon Smith ()
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Sabiou M. Inoua: Chapman University

Chapter Chapter 6 in Economics of Markets, 2022, pp 131-156 from Springer

Abstract: Abstract This chapter extends the theory to multiple markets where, as in classical economics, wealth is explicitly treated as one of the determinants of reservation prices in market realizations.

Keywords: Price formation; General Equilibrium; Invariance principle; Competitive equilibrium (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-08428-7_6

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DOI: 10.1007/978-3-031-08428-7_6

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