Define the dynamic Arrow-Hurwicz model in a discrete-time and in a continuous-time versions, taking as the basis
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Define the dynamic Arrow-Hurwicz model in a discrete-time and in a continuous-time versions, taking as the basis the static Arrow-Hurwicz model from Exercise 2 with logarithmic and subadditive utility functions of traders.
Exercise 2
There is given a market of two traders and two goods described by the static Arrow-Hurwicz model, in which:
Transcribed Image Text:
i = 1, 2-an index of consumer goods, k = 1, 2-an index of traders (consumers), X = R2-a goods space,
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Related Book For
Microeconomics Static And Dynamic Analysis Springer Texts In Business And Economics
ISBN: 9783031105531
1st Edition
Authors: Krzysztof Malaga, Karolina Sobczak
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