Tuesday, October 6, 2015

Equilibration without Scalar Utility: Formal Non-equilibrium Modeling (Sneak Peak)

This is what equilibration looks like when agents coordinate action without agents who consider the MRS as derived from scalar utility. The lower boundary represent the price that is represented by the ratio of desired reserve levels for each of the two goods in the model. Non-equilibrium modeling provides equilibrium results. I hope to have the paper up by the weekend.

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