Economic Dynamics and Information

by

Write The First Customer Review

This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium. The variety and variance of ...

Economic Dynamics and Information 2006, Springer, Berlin, Germany

ISBN-13: 9783540326946

2006 edition

Trade paperback

Select