Equilibrium Behaviour in Markets and Games: Testing, Identification and Comparative Statistics

Indrajit Ray, A Carvajal, S Snyder

Research output: Contribution to journalArticle

17 Citations (Scopus)

Abstract

We provide a selective survey of the recent literature on the empirical implications of individually rational behavior in markets and games. We concentrate on work that develops empirical implications while making as few parametric assumptions as possible. We focus on two major themes: 1. the testable restrictions on the equilibrium manifold and the identification of economic fundamentals from the equilibrium manifold; and 2. the implications of the revealed preference theory of individual behavior for aggregated data. (C) 2003 Elsevier B.V. All rights reserved.
Original languageEnglish
Pages (from-to)1-40
Number of pages40
JournalJournal of Mathematical Economics
Volume40
Issue number1-2
DOIs
Publication statusPublished - 1 Jan 2004

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