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On the convergence to Walrasian prices in random matching Edgeworthian economies |
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| Authors: | A A Pinto M Ferreira B F Finkenst?dt B Oliveira A N Yannacopoulos |
| Institution: | 1. LIAAD—INESC LA, Porto, Portugal 2. Departamento de Matemática, Faculdade de Ciências, Universidade do Porto, Porto, Portugal 3. ESEIG, Instituto Politécnico do Porto, Porto, Portugal 5. Department of Statistics, University of Warwick, Coventry, UK 4. Faculdade de Ciências da Nutri?áo e Alimenta?áo, Universidade do Porto, Porto, Portugal 6. Department of Statistics, Athens University of Economics and Business, Athens, Greece |
| Abstract: | We show that for a specific class of random matching Edgeworthian economies, the expectation of the limiting equilibrium price coincides with the equilibrium price of the related Walrasian economies. This result extends to the study of economies in the presence of uncertainty within the multi-period Arrow-Debreu model, allowing to understand the dynamics of how beliefs survive and propagate through the market. |
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