Core and Equilibria of a Large Economy. (Psme-5)

by Werner Hildenbrand

Book Overview

Can every allocation in the core of an economy be decentralized by a suitably chosen price system? Werner Hildenbrand shows that the answer is yes if the economy has "many" participating agents and if the influence of every individual agent on collective actions is "negligible." To give a general and precise definition of economics with this property he considers both economies with a continuum of agents, and a sequence of economies with an increasing...

• Format: Paperback
• Language: English
• ISBN: 069161878X
• ISBN13: 9780691618784
• Release Date: March 2015
• Publisher: Princeton University Press
• Length: 262 Pages
• Weight: 0.82 lbs.
• Dimensions: 0.6" x 6.1" x 9.2"