Munich Personal RePEc Archive

On the Computation of the Hausdorff Dimension of the Walrasian Economy:Further Notes

Dominique, C-Rene (2009): On the Computation of the Hausdorff Dimension of the Walrasian Economy:Further Notes.

[img]
Preview
PDF
MPRA_paper_16723.pdf

Download (73kB) | Preview

Abstract

ABSTRACT: In a recent paper, Dominique (2009) argues that for a Walrasian economy with m consumers and n goods, the equilibrium set of prices becomes a fractal attractor due to continuous destructions and creations of excess demands. The paper also posits that the Hausdorff dimension of the attractor is d = ln (n) / ln (n-1) if there are n copies of sizes (1/(n-1)), but that assumption does not hold. This note revisits the problem, demonstrates that the Walrasian economy is indeed self-similar and recomputes the Hausdorff dimensions of both the attractor and that of a time series of a given market.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.