Robustness of the Uniqueness of Walrasian Equilibrium with Cobb-Douglas Utilities
نویسندگان
چکیده
منابع مشابه
APPROXIMATE SOLUTIONS OF THE WALRASIAN EQUILIBRIUM INEQUALITIES WITH BOUNDED MARGINAL UTILITIES OF INCOME By
Recently Cherchye et al. (2011) reformulated the Walrasian equilibrium inequalities, introduced by Brown and Matzkin (1996), as an integer programming problem and proved that solving the Walrasian equilibrium inequalities is NPhard. Brown and Shannon (2002) derived an equivalent system of equilibrium inequalities ,i.e., the dual Walrasian equilibrium inequalities. That is, the Walrasian equilib...
متن کاملRobustness of Walrasian Tâtonnement in Locally Identifying an Equilibrium
It is widely believed that classical schemes of tâtonnement, in which prices are systematically lowered for goods in excess supply but raised for goods in excess demand, are inadequate for achieving equilibrium in basic models of exchange with a satisfying degree of generality. Well known examples reveal a lack of convergence even if the process is initiated with prices arbitrarily near to equi...
متن کاملWalrasian Equilibrium with Gross Substitutes
Sloan Foundation for their support. We are grateful to Vincent Crawford who provided valuable comments and pointed out to us the connection between Kelso and Crawford [5] and our work, to John Geanakoplos for suggesting a weakening of our main assumption, and to Don Brown for valuable comments.
متن کاملthe evaluation of language related engagment and task related engagment with the purpose of investigating the effect of metatalk and task typology
abstract while task-based instruction is considered as the most effective way to learn a language in the related literature, it is oversimplified on various grounds. different variables may affect how students are engaged with not only the language but also with the task itself. the present study was conducted to investigate language and task related engagement on the basis of the task typolog...
15 صفحه اولFitting of Cobb-Douglas Production Functions: Revisited
The set of Cobb-Douglas production functions is usually fitted by first linearizing the models through logarithmic transformation and then applying method of least squares. However, this procedure is valid only when the underlying assumption of multiplicative error-terms is justified. Unfortunately, this assumption is rarely satisfied in practice and accordingly, the results obtained are of dou...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1498596