APPROXIMATELY COMPETITIVE EQUILIBRIA IN LARGE FINITE ECONOMIES

We consider exchange economies where each consumer may report or act a ccording to any demand function provided that there exist situations t hat the consumer finds plausible in which the reported demand performs at least as well as the true demand. We identify conditions under whi ch, as the size of the economy increases, all the market-clearing pric es and allocations of the reported economy approximate the competitive equilibria of the true economy. (C) 1997 Academic Press.