A note on Herbert Gintis' "Emergence of a Price System from Decentralized Bilateral Exchange"

Antoine Mandel and Nicola Botta ()
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Nicola Botta: PIK - Potsdam Institute for Climate Impact Research

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: In two recent contributions, Herbert Gintis introduces agent-based imitation models built upon evolutionary bargaining games where agents use private prices as strategies. He reports surprising convergence results for simulations performed in exchange economies where goods are strict complement. We investigate analyt- ically these results using the notion of stochastic stability.

Keywords: Stochastic Stability; Exchange economies; Bargaining Games; Equilibrium Selection; Stochastic Stability. (search for similar items in EconPapers)
Date: 2009-12-31
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00634656
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Citations: View citations in EconPapers (9)

Published in The BE Journals in Theoretical Economics, 2009, 9 (1), pp.article 44. ⟨10.2202/1935-1704.1560⟩

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Related works:
Journal Article: A Note on Herbert Gintis' "Emergence of a Price System from Decentralized Bilateral Exchange" (2009)
Working Paper: A note on Herbert Gintis' "Emergence of a Price System from Decentralized Bilateral Exchange" (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00634656

DOI: 10.2202/1935-1704.1560

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