Studies on Effects of Multiplicity of Equilibria and Indivisibility of Commodities on Competitive Economies
Project/Area Number |
25380228
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Research Category |
Grant-in-Aid for Scientific Research (C)
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Allocation Type | Multi-year Fund |
Section | 一般 |
Research Field |
Economic theory
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Research Institution | Kobe University |
Principal Investigator |
|
Co-Investigator(Renkei-kenkyūsha) |
YAMATO TAKEHIKO 東京工業大学, 工学院経営工学系, 教授 (90246778)
|
Project Period (FY) |
2013-04-01 – 2017-03-31
|
Project Status |
Completed (Fiscal Year 2016)
|
Budget Amount *help |
¥4,940,000 (Direct Cost: ¥3,800,000、Indirect Cost: ¥1,140,000)
Fiscal Year 2016: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
|
Keywords | 市場経済 / 完全競争 / 複数均衡 / 安定性 / 財の不可分性 / 純粋交換経済 / パレート最適 / 経済実験 / 財の可分性 / 協力解 / コア |
Outline of Final Research Achievements |
We investigated an exchange economy model with two kinds of infinitely divisible goods and two types of consumers to characterize stability and instability of competitive equilibrium by initial allocations to the consumers. We also developed an exchange economy model with two kinds of indivisible goods to conduct a double auction experiment with human subjects. In the middle of experiment, we changed the initial allocation from the stable case to the unstable case, and the other way around, and observed that price fluctuation is not so sensitive to the value of market excess demand. In addition, we examined an exchange economy model with three kinds of infinitely divisible goods and three types of consumers to characterize stable and unstable competitive equilibria in terms of parameters of utility functions of the consumers.
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Report
(5 results)
Research Products
(16 results)