Catastrophic Walrasian Equilibrium from the Non-Walrasian Viewpoint: A Three-Good Macroeconomic Example
从非瓦尔拉斯视角定义灾难性瓦尔拉斯均衡,即价格微小偏离导致均衡配置大幅远离瓦尔拉斯配置,并用一个三商品单家庭私有制生产经济模型精确刻画该现象。
A Walrasian equilibrium is catastrophic from the non-Walrasian viewpoint if some small deviation from the Walrasian prices produces only non-Walrasian equilibrium allocations a long way from the Walrasian allocation. A precise account of this phenomenon is given for a class of three good, single household private ownership production economies.