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| Author: | Jackson, M. Manelli, A. |
| Title: | Approximately competitive equilibria in large finite economies |
| Journal: | Journal of Economic Theory
1997 : DEC, VOL. 77:2, p. 354-376 |
| Index terms: | ECONOMIC CONDITIONS COMPETITION CONSUMERS |
| Language: | eng |
| Abstract: | The authors consider exchange economies where each consumer may report or act according to any demand function provided that there exist situations that the consumer finds plausible in which the reported demand performs at least as well as the true demand. The authors identify conditions under which, as the size of the economy increases, all the market-clearing prices and allocations of the reported economy approximate the competitive equilibria of the true economy. |
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