Economic Dynamics and Information

• Main Author: Zajac, Jaroslav (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2006.
• Series: Lecture Notes in Economics and Mathematical Systems, 576
• Subjects: Artificial intelligence.; Mathematics.; Economics.; Management science.; Economic theory.; Macroeconomics.; Economics, general.; Mathematics, general.; Economic Theory/Quantitative Economics/Mathematical Methods.; Artificial Intelligence (incl. Robotics).; Macroeconomics/Monetary Economics//Financial Economics.

This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the correspon...