On the existence and convergence of price equilibria for random economies

Authors
Citation
Nummelin, Esa, On the existence and convergence of price equilibria for random economies, Annals of applied probability , 10(1), 2000, pp. 268-282
ISSN journal
10505164
Volume
10
Issue
1
Year of publication
2000
Pages
268 - 282
Database
ACNP
SICI code
Abstract
We study an exchange economy comprising n agents,where the excess demands by the agents are random variables. We show that under certain conditions the set of price equilibria is nonempty. We also prove a theorem concerning the convergence of the random price equilibria toward the price equilibria of an associated .expectation economy..