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Core and Equilibria of a Large Economy. (PSME-5)
By (Author) Werner Hildenbrand
Princeton University Press
Princeton University Press
19th May 2015
United States
Tertiary Education
Non Fiction
330.1
Paperback
262
Width 152mm, Height 235mm
369g
Can every allocation in the core of an economy be decentralized by a suitably chosen price system Werner Hildenbrand shows that the answer is yes if the economy has "many" participating agents and if the influence of every individual agent on collective actions is "negligible." To give a general and precise definition of economics with this proper