Kumar, Alok; Shubik, Martin - School of Management, Yale University - 2001
In this paper we examine the structure of the core of a trading economy with three competitive equilibria as the number … increased further, the core shrinks by N = 600 with essentially only the 3 competitive equilibria remaining. We find that the … speed of convergence of the core toward the three competitive equilibria is not uniform. Initially, for small N, it is not …