
Free Download Economic Dynamics and Information By Prof. Jaroslav Zajac (auth.) 2006 | 274 Pages | ISBN: 3540326944 | PDF | 4 MB 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 corresponding stationary state equilibrium. Sufficient heterogeneity leads to
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