Bilancini, Ennio; Petri, Fabio - Dipartimento di Economia Politica e Statistics, … - 2008
This is a comment on Gintis (2007, 'The Dynamics of General Equilibrium', Economic Journal 117 (523) , 1280–1309), who provides an agent-based model of a Walrasian economy where the tâtonnement is replaced by imitation. His simulations show that the economy converges to the Walrasian...