Rationality of Choices Made by a Group of Consumers

Karolina Sobczak-Marcinkowska () and Krzysztof Malaga ()
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Karolina Sobczak-Marcinkowska: Poznań University of Economics and Business
Krzysztof Malaga: Poznań University of Economics and Business

Chapter Chapter 3 in Workbook for Microeconomics, 2023, pp 59-84 from Springer

Abstract: Abstract This Chapter presents 8 exercises that help in understanding the problem of describing rational decisions made by a group of consumers. They concern a simple exchange model, the static Arrow-Hurwicz model and the dynamic Arrow-Hurwicz model, in a discrete-time and continuous-time versions. In particular the focus of the exercises is to deal with a concept of the Walras general equilibrium and its global asymptotic stability.

Date: 2023
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DOI: 10.1007/978-3-031-41947-8_3

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