Artikel

Modeling infinitely many agents

This paper offers a resolution to an extensively studied question in theoretical economics: which measure spaces are suitable for modeling many economic agents? We propose the condition of 'nowhere equivalence' to characterize those measure spaces that can be effectively used to model the space of many agents. In particular, this condition is shown to be more general than various approaches that have been proposed to handle the shortcoming of the Lebesgue unit interval as an agent space. We illustrate the minimality of the nowhere equivalence condition by showing its necessity in deriving the determinateness property, the existence of equilibria, and the closed graph property for equilibrium correspondences in general equilibrium theory and game theory.

Sprache
Englisch

Erschienen in
Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 12 ; Year: 2017 ; Issue: 2 ; Pages: 771-815 ; New Haven, CT: The Econometric Society

Klassifikation
Wirtschaft
Thema
Agent space
nowhere equivalence
Nash equilibrium
Walrasian equilibrium
determinateness property
closed graph property
relative saturation
atomless independent supplement
conditional atomlessness

Ereignis
Geistige Schöpfung
(wer)
He, Wei
Sun, Xiang
Sun, Yeneng
Ereignis
Veröffentlichung
(wer)
The Econometric Society
(wo)
New Haven, CT
(wann)
2017

DOI
doi:10.3982/TE1647
Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

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Objekttyp

  • Artikel

Beteiligte

  • He, Wei
  • Sun, Xiang
  • Sun, Yeneng
  • The Econometric Society

Entstanden

  • 2017

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