Individual Randomness in Economic Models with a Continuum Agents
AbstractThe lack of a law of large numbers for a continuum of random variables has casted doubt on several important economic models. This work presents a new framwork for the analysis of stochastic mass phenomena in economic, without departing from usual measure theory techniques.
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Bibliographic InfoPaper provided by Washington St. Louis - School of Business and Political Economy in its series Papers with number 9807.
Length: 25 pages
Date of creation: 1998
Date of revision:
Contact details of provider:
Postal: WASHINGTON UNIVERSITY IN ST-LOUIS, SCHOOL OF BUSINESS AND CENTER IN POLITICAL ECONOMY, ST-LOUIS MISSOURI 63130 U.S.A.
Web page: http://www.olin.wustl.edu/
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RANDOM VARIABLES ; ECONOMIC MODELS;
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- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
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- Gersbach, Hans, 2005.
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- Carlos Alós-Ferrer, 2000. "Finite Population Dynamics and Mixed Equilibria," Vienna Economics Papers 0008, University of Vienna, Department of Economics.
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