Heterogeneity and Stability: Variations on Scarf's Processes
AbstractThere are still problems in handling diversity in economics. The general equilibrium model itself lacks determinacy for a generic population of economic agents. In an ourstanding contribution, Jean-Michel Grandmont (1992) argues that increasing behavioural heterogeneity makes aggregate expenditures more independent of prices.Thisnote emphasises the specific nature of the distributions in Grandmont's framework and enhances that the strong macroeconomic regularities that he evidences cannot be considered as a general property of exchange markets.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by European University Institute in its series Economics Working Papers with number eco98/38.
Length: 38 pages
Date of creation: 1998
Date of revision:
Contact details of provider:
Postal: Badia Fiesolana, Via dei Roccettini, 9, 50016 San Domenico di Fiesole (FI) Italy
Web page: http://www.eui.eu/ECO/
More information through EDIRC
CONSUMPTION ; MARKET STRUCTURE ; GENERAL EQUILIBRIUM ; MACROECONOMICS;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Alan Kirman, 2006.
"Demand Theory and General Equilibrium: From Explanation to Introspection, a Journey down the Wrong Road,"
History of Political Economy,
Duke University Press, vol. 38(5), pages 246-280, Supplemen.
- Alan Kirman, 2006. "Demand Theory and General Equilibrium: From Explanation to Introspection, a Journey down the Wrong Road," Economics Working Papers 0073, Institute for Advanced Study, School of Social Science.
- Gael Giraud & Isabelle Maret, 2002.
"Behavioral Heterogeneity in Large Economies,"
Working Papers of BETA
2002-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Isabelle MARET, 2001. "Modeling Behavioral Heterogeneity in Demand Theory," Working Papers of BETA 2001-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Gael GIRAUD & Isabelle MARET, 2002. "Modelling Behavioral Heterogeneity," Working Papers of BETA 2002-22, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Isabelle MARET, 2002. "Modeling Behavioral Heterogeneity in Demand Theory," Working Papers of BETA 2002-05, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marcia Gastaldo).
If references are entirely missing, you can add them using this form.