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Approximate Equilibria with Bounds Independent of Preferences

Robert M. Anderson1,2; M. Ali Khan3; Salim Rashid4,5

1 Princeton University · 2 Yale University · 3 Johns Hopkins University · 4 University of Illinois Urbana-Champaign · 5 University of Illinois System

Review of Economic Studies 1982

We prove the existence of approximate equilibria in exchange economies, giving bounds on the excess demand in terms of the number of traders and norms of the endowments, but independent of the preferences.

DOI
10.2307/2297370
Volume
49 (3)
Pages
473
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