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Household Economies With Infinitely Many Agents: A Game-Theoretic Analysis

Author

Listed:
  • ANDRZEJ WIECZOREK

    (Institute of Computer Science, Polish Academy of Sciences, ul. Ordona 21, 01-237 Warszawa, Poland)

Abstract

The paper presents a model of household economy with infinitely many anonymous agents producing, trading and consuming some goods. The model can be regarded as describing the behavior of an economy in one or two stages. Various solution concepts, such as competitive equilibrium, efficient production profiles, core and quasi-core are defined and studied. Numerical experience is briefly reported.

Suggested Citation

  • Andrzej Wieczorek, 2002. "Household Economies With Infinitely Many Agents: A Game-Theoretic Analysis," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 4(03), pages 319-329.
    • Handle: RePEc:wsi:igtrxx:v:04:y:2002:i:03:n:s0219198902000720
    DOI: 10.1142/S0219198902000720
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    More about this item

    Keywords

    Household economy; infinitely many agents; large game; competitive equilibrium; core; quasi-core; efficient profile;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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