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A computational analysis of the core of a trading economy with three competitive equilibria


  • Alok Kumar

    () (Yale)

  • Martin Shubik

    () (Yale)


An exchange economy with three equilibrium points is considered. The core of this economy is studied under replication. It is shown that the core splits into separate segments after 5 and then 12 replications and that convergences proceeds at different rates towards the three equilibria.

Suggested Citation

  • Alok Kumar & Martin Shubik, 2001. "A computational analysis of the core of a trading economy with three competitive equilibria," Economics Bulletin, AccessEcon, vol. 28(4), pages 1.
  • Handle: RePEc:ebl:ecbull:eb-01aa0007

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    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium


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