Can we identify Walrasian allocations?
Contribuinte(s) |
Universitat de Barcelona |
---|---|
Data(s) |
26/09/2013
|
Resumo |
[eng] We consider a discrete time, pure exchange infinite horizon economy with two or more consumers and at least one concumption good per period. Within the framework of decentralized mechanisms, we show that for a given consumption trade at any period of time, say at time one, the consumers will need, in general, an infinite dimensional (informational) space to identigy such a trade as an intemporal Walrasian one. However, we show and characterize a set of enviroments where the Walrasian trades at each period of time can be achieved as the equilibrium trades of a sequence of decentralized competitive mechanisms, using only both current prices and quantities to coordinate decisions. |
Identificador | |
Idioma(s) |
eng |
Publicador |
Universitat de Barcelona. Facultat d'Economia i Empresa |
Direitos |
cc-by-nc-nd, (c) Manresa, 1998 info:eu-repo/semantics/openAccess <a href="http://creativecommons.org/licenses/by-nc-nd/3.0/">http://creativecommons.org/licenses/by-nc-nd/3.0/</a> |
Palavras-Chave | #Econometria #Equilibri (Economia) #Microeconomia #Macroeconomia #Economia matemàtica #Econometrics #Equilibrium (Economics) #Microeconomics #Macroeconomics #Mathematical economics |
Tipo |
info:eu-repo/semantics/workingPaper |