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Persistent link: https://www.econbiz.de/10003825621
Gintis (2007, 'The Dynamics of General Equilibrium'', Economic Journal 117 (523) , 1280–1309) 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 equilibrium. Gintis concludes...
Persistent link: https://www.econbiz.de/10005110915
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...
Persistent link: https://www.econbiz.de/10005766506
Gintis (2007, 'The Dynamics of General Equilibrium'', Economic Journal 117 (523) , 1280–1309) 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 equilibrium. Gintis concludes...
Persistent link: https://www.econbiz.de/10010629161