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Edgeworth exchange is the fundamental general equilibrium model, yet equilibrium predications and theories of price adjustment for this model remain untested. This paper reports an experimental test of Edgeworth exchange which demonstrates that prices and allocations converge sharply to the...
Persistent link: https://www.econbiz.de/10005077054
work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of …
Persistent link: https://www.econbiz.de/10005134958