Volume 57, 2017ETAMM 2016 - Emerging Trends in Applied Mathematics and Mechanics
|Page(s)||12 - 22|
|Published online||26 October 2017|
Reaching Cournot-Walras Equilibrium
1 Informatics Department, University of Bergen, Norway,
2 Economics Department, University of Bergen, Norway
a E-mail: Sjur.Flaam@uib.no
Considered here is repeated interaction among economic agents. These must share privately held user rights to diverse production factors. The disparate features of the resulting economy motivate a solution concept which blends Cournot/Nash equilibrium with that of Walras. A novelty comes by showing that integrated equilibrium may emerge via adaptive behavior and repeated play.
© EDP Sciences, SMAI 2017
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