The rate of convergence of the core for a purely competitive sequence of economies |
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Authors: | Birgit Grodal |
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Affiliation: | University of Copenhagen, Copenhagen, Denmark |
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Abstract: | The purpose of the paper is to show that for ‘most’ purely competitive sequences of economies on a compact set of agents' characteristics the core converges to the set of equilibria at least as fast as the inverse of the number of agents. It is assumed that agents have smooth, convex preferences with non-zero Gaussian curvature. This rate of convergence is obtained for a purely competitive sequence with regular limit distribution. |
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