کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
966962 931127 2008 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Stable processes of exchange
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
Stable processes of exchange
چکیده انگلیسی
In this paper we address a long standing gap in economic theory-the gap between claims for the dynamic efficiency of trading in markets, and the findings of formal economic theory, which justify those claims only under restrictive assumptions. We use agent-based methods to study the dynamics of exchange with trading agents who are characterized by several different preference relations. We see that outcomes converge with high probability to Pareto optima in the cases studied, including the well-known example due to Scarf.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 44, Issue 12, 20 December 2008, Pages 1398-1412
نویسندگان
, ,