Can Markets Compute Equilibria?

Can Markets Compute Equilibria?
Recent turmoil in financial and commodities markets has renewed questions regarding how well markets discover equilibrium prices, particularly when those markets are highly complex. A relatively new critique questions whether markets can realistically find equilibrium prices if computers cannot. For instance, in a simple exchange economy with... READ MORE...

Publication date: February 2009
ISBN 9781451871715
$18.00

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