Gradient differences, direct deals, and equilibrium

Luogo: 
Dipartimento di Matematica - aula Seminari

2 aprile 2012
ore 16.30

 

  • Relatore: prof. Sjur D. Flåm (Department of Economics, University of Bergen)

Abstract: 
Considered are transferable-utility economies in which each agent faces  a constrained program, valuates transferable resources by own shadow  prices (i.e. dual variables), and makes exchanges based on shadow price differences.  In such a setting, equilibrium may emerge via iterated, direct deals,  involving only two agents at a time.

Referente:
G.H. Greco

Organizzatore: 
Dipartimento di Matematica