Equilibrium Price Distributions

Some Results on Equilibrium Distributions

‎The equilibrium distributions have many applications in reliability theory, stochastic orderings and random processes. ‎The purpose of this paper is to introduce the equilibrium distributions and presents some results related to this issue. Some results are based on order statistics. ‎In this paper, ‎the generalized Pareto distributions are also analyzed and some basic relationships between t...

Walrasian Price Equilibrium

Spatial Price Equilibrium

Equilibrium Distributions with Externalities∗

This paper presents a general model of an exchange economy with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The key aspect of the model is that the economy is described in distributional terms. JEL Classification D5

Brokers and the Equilibrium Price Function

This paper describes the equilibrium price function generated by brokers in a market in which heterogeneous buyers meet heterogeneous sellers through a matching process with frictions. The equilibrium price function relates the price to alternative ratios of buyers and sellers offered by different brokers. The paper shows how brokers can enter a matching market and charge fees that yield a prof...