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Stability of the Market Economy in the Presence of Diverse Economic Agents
https://doi.org/10.18884/00000608
https://doi.org/10.18884/0000060858af70eb-a46d-406a-a558-0fb639c10284
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
JICA-RI_WP_No.8_2010.pdf (843.0 kB)
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| Item type | 報告書 / Research Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2010-03-01 | |||||
| タイトル | ||||||
| タイトル | Stability of the Market Economy in the Presence of Diverse Economic Agents | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Stability of equilibrium | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | diverse preferences | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | redistribution of resources | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | rank condition | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | incentives for competitive transactions | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18ws | |||||
| 資源タイプ | research report | |||||
| ID登録 | ||||||
| ID登録 | 10.18884/00000608 | |||||
| ID登録タイプ | JaLC | |||||
| 報告年度 | ||||||
| 日付 | 2010-03-01 | |||||
| 日付タイプ | Issued | |||||
| 著者 |
Mukherji, Anjan
× Mukherji, Anjan |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | The stability of market economy is defined and stability conditions deduced which do not appear to restrict preferences in any significant manner. This assumes importance when considering economies where diversity among agents is known to exist. It is shown that if a condition on the rank of the Jacobian matrix of the excess demand functions at equilibria is satisfied then equilibria will be locally asymptotically stable. When this condition is not met, it is shown how redistributing resources may lead to stable competitive equilibrium. It is also shown how instead of imposing credible penalties, which may cause significant incentive problems, redistributing resources may serve to provide the correct incentives to agents who otherwise might have contributed to market failure. | |||||
| 号 | ||||||
| 号 | Working Paper;8 | |||||
