This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium.
Format: Paperback / softback
CONTRIBUTORS: Jaroslav Zajac
EAN: 9783540326946
COUNTRY: Germany
PAGES:
WEIGHT: 900 g
HEIGHT: 235 cm
PUBLISHED BY: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
DATE PUBLISHED: 2006-08-01
CITY:
GENRE: BUSINESS & ECONOMICS / General, BUSINESS & ECONOMICS / Economics / Macroeconomics, BUSINESS & ECONOMICS / Economics / Theory, COMPUTERS / Artificial Intelligence / General, MATHEMATICS / General
WIDTH: 155 cm
SPINE:
Book Themes:
Finance and the finance industry
