| 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)
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| 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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