论文信息 - Markets with a continuum of traders

Markets with a continuum of traders

It is suggested that the most natural mathematical model for a market with "perfect competition" is one in which there is a continuum of traders (like the continuum of points on a line). It is shown that the core of such a market coincides with the set of its "equilibrium allocations", i.e., allocations which constitute a competitive equilibrium when combined with an appropriate price structure.

R. Aumann

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