Journal of Convex Analysis 13 (2006), No. 2, 269--279
Copyright Heldermann Verlag 2006
Behavioral Economics, Competitive Equilibrium and Multiple Phase Dynamics in an Abstract, Adaptive Society: Remarks in Honor of Jean-Pierre Aubin
Richard H. Day
Dept. of Economics, University of Southern California, Los Angeles, CA 90089-0253, U.S.A.
This paper gives a general characterization of satisficing, lexicographic agents, provides conditions for the existence of a competitive equilibrium and considers the viability and multiphase dynamic of an abstract adaptive society whose agents are governed by satisficing, lexicographic choice.
[ Fulltext-pdf (271 KB)] for subscribers only.