This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Equilibrium selections Author info | Abstract | Publisher info | Download info | Related research | Statistics Beth Allen
Jayasri Dutta
Haraklis M. Polemarchakis
Additional information is available for the following
registered author(s):
This paper studies the outcome of fully insured random selections among multiple competitive equilibria. This defines an iterative procedure of reallocation which is Pareto improving at each step. The process converges to a unique Pareto optimal allocation in finitely many steps. The key requirement is that random selections be continuous, which is a generic condition for smooth exchange economies with strictly concave utility functions.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Federal Reserve Bank of Minneapolis in its series Discussion Paper / Institute for Empirical Macroeconomics with number
90.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length:
Date of creation: 1994Date of revision:
Handle: RePEc:fip:fedmem:90Contact details of provider: Postal: 90 Hennepin Avenue, P.O. Box 291, Minneapolis, MN 55480-0291 Phone: (612) 204-5000 Web page: http://minneapolisfed.org/ More information through EDIRC
Order Information: Email: Web: http://www.minneapolisfed.org/pubs/
For technical questions regarding this item, or to correct its listing, contact: (Diane Rosenberger).
Keywords: Prices ; References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
Balasko, Yves, 1983.
"Extrinsic uncertainty revisited ,"
Journal of Economic Theory ,
Elsevier, vol. 31(2), pages 203-210, December.
[Downloadable!] (restricted)
Malinvaud, E., 1972.
"The allocation of individual risks in large markets ,"
Journal of Economic Theory ,
Elsevier, vol. 4(2), pages 312-328, April.
[Downloadable!] (restricted)
Cass, David & Shell, Karl, 1983.
"Do Sunspots Matter? ,"
Journal of Political Economy ,
University of Chicago Press, vol. 91(2), pages 193-227, April.
[Downloadable!] (restricted)
Azariadis, Costas, 1981.
"Self-fulfilling prophecies ,"
Journal of Economic Theory ,
Elsevier, vol. 25(3), pages 380-396, December.
[Downloadable!] (restricted)
Mas-Colell, Andreu & Nachbar, John H., 1991.
"On the finiteness of the number of critical equilibria, with an application to random selections ,"
Journal of Mathematical Economics ,
Elsevier, vol. 20(4), pages 397-409.
[Downloadable!] (restricted)
Malinvaud, Edmond, 1972.
"Prices for Individual Consumption, Quantity Indicators for Collective Consumption ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 39(4), pages 385-405, October.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Sayantan Ghosal & Massimo Morelli, 2002.
"Retrading in Market Games ,"
Economics Working Papers
0012, Institute for Advanced Study, School of Social Science.
[Downloadable!]
Other versions:
Massimo Morelli & Sayantan Ghosal, 2001.
"Retrading in Market Games ,"
Working Papers
01-09, Ohio State University, Department of Economics.
[Downloadable!] Ghosal, Sayantan & Morelli, Massimo, 2004.
"Retrading in market games ,"
Journal of Economic Theory ,
Elsevier, vol. 115(1), pages 151-181, March.
[Downloadable!] (restricted) Martin Hohnisch, 2005.
"Local Interactions as a Decentralized Mechanism Coordinating Equilibrium Expectations ,"
Bonn Econ Discussion Papers
bgse30_2005, University of Bonn, Germany.
[Downloadable!]
Hector Calvo Pardo, 2005.
"Are the Anti-globalists right? Gains-from-trade without a Walrasian auctioneer ,"
PSE Working Papers
2005-35, PSE (Ecole normale supérieure).
[Downloadable!]
Other versions: Jayasri Dutta & Stephen Morris, .
""The Revelation of Information and Self-Fulfilling Beliefs'' ,"
CARESS Working Papres
95-03, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
[Downloadable!]
Other versions:
DUTTAÊ, Jayasri & MORRISÊ, Stephen, 1995.
"The Revelation of Information and Self-Fulfilling Beliefs ,"
CORE Discussion Papers
1995076, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
Jayasri Dutta & Stephen Morris, .
"The Revelation of Information and Self-Fulfilling Beliefs ,"
Penn CARESS Working Papers
269cceedcbd401a5e46548b88, Penn Economics Department.
[Downloadable!] Dutta, Jayasri & Morris, Stephen, 1997.
"The Revelation of Information and Self-Fulfilling Beliefs ,"
Journal of Economic Theory ,
Elsevier, vol. 73(1), pages 231-244, March.
[Downloadable!] (restricted)
Access and
download statistics Did you know? There are over 21000 authors registered on RePEc Author Service .
This page was last updated on 2009-11-20.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .