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which agents receive private information over time. We propose a suitable generalization of the Vickrey …
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We show that all the fundamental properties of competitive equilibrium in Marshall's theory of value, as presented in Note XXI of the mathematical appendix to his Principles of Economics (1890), derive from the Strong Law of Demand. This is, existence, uniqueness, optimality, global stability of...
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decreases. Agents link with each other to gain information and update their links according to better-reply dynamics. In the …
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