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

Author

Listed:
  • Alok Kumar

    () (Yale)

  • Martin Shubik

    () (Yale)

Abstract

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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    References listed on IDEAS

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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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