Approximate Equilibria with Bounds Independent of Preferences

Robert M. Anderson, M. Khan and Salim Rashid ()
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Robert M. Anderson: Princeton University

No 595, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We prove the existence of approximate equilibria in exchange economies, giving bounds on the excess demand in terms of the number of traders and norms of the endowments, but independent of the preferences.

Pages: 5 pages
Date: 1981-06
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Published in Review of Economic Studies (July 1982), 49(3): 473-475

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