How Long to Read Non-trivial Equilibrium in an Economy with Stochastic Rationing

How Long Does it Take to Read Non-trivial Equilibrium in an Economy with Stochastic Rationing?

It takes the average reader and 41 minutes to read Non-trivial Equilibrium in an Economy with Stochastic Rationing by Seppo Honkapohja

Assuming a reading speed of 250 words per minute. Learn more

Description

Stochastic rationing when the market does not clear draws attention because both Dreze (1975) and Benassy (1975) quantity-constrained equilibria have some undesirable features. Gale (1978)gave the existence proof of trade under uncertainty. His stochastic rationing depends on all the individual effective demands. It is too vague to characterize a rationing mechanism. Moreover, his assumption to ensure a non-trivial equilibrium is economically not clear. In this paper we extend Green (1978) to characterizing the rationing scheme as the individual effective demand times the rationing number which is a function of the aggregate quantity signals. We also construct an economy with money and overlapping generations. We show the existence of the non-trivial equilibrium and provide an example of a non-Wairasian equilibrium at the Walrasian equilibrium prices

How long is Non-trivial Equilibrium in an Economy with Stochastic Rationing?

Non-trivial Equilibrium in an Economy with Stochastic Rationing by Seppo Honkapohja is 41 pages long, and a total of 10,291 words.

This makes it 14% the length of the average book. It also has 13% more words than the average book.

How Long Does it Take to Read Non-trivial Equilibrium in an Economy with Stochastic Rationing Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 56 minutes to read Non-trivial Equilibrium in an Economy with Stochastic Rationing aloud.

What Reading Level is Non-trivial Equilibrium in an Economy with Stochastic Rationing?

Non-trivial Equilibrium in an Economy with Stochastic Rationing is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Non-trivial Equilibrium in an Economy with Stochastic Rationing?

Non-trivial Equilibrium in an Economy with Stochastic Rationing by Seppo Honkapohja is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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