Decentralized pure exchange processes on networks
定义了一类纯交换Edgeworth交易过程,在最小假设下收敛到分配空间中的稳定集,并刻画了帕累托集。通过公平交易过程分析加权网络上代理人的交易动态,推导了网络版第二福利定理,探讨网络拓扑对交易动态和最终分配的影响。
Abstract We define a class of pure exchange Edgeworth trading processes that under minimal assumptions converge to a stable set in the space of allocations, and characterise the Pareto set of these processes. Choosing a specific process belonging to this class, that we define fair trading , we analyse the trade dynamics between agents located on a weighted network. We determine the conditions under which there always exists a one-to-one map between the set of networks and the set of limit points of the dynamics, and derive an analog of the Second Welfare Theorem for networks. This result is used to explore what is the effect of the network topology on the trade dynamics and on the final allocation.