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| Author: | Majumdar, M. Rotar, V. |
| Title: | Equilibrium prices in a random exchange economy with dependent agents |
| Journal: | Economic Theory
2000 : VOL. 15:3, p. 531-550 |
| Index terms: | EQUILIBRIUM THEORY PRICES ECONOMIC CONDITIONS |
| Language: | eng |
| Abstract: | This paper presents a model of a Walrasian exchange economy in which the preferences and endowments of the agents are random. Stochastic interaction among the agents is formally described in terms of dependency neighborhoods. The main result is a characterization of the distribution of market-clearing prices in a large economy. |
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