Dominique, C-Rene (2009): On the Computation of the Hausdorff Dimension of the Walrasian Economy:Further Notes.
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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.
|Item Type:||MPRA Paper|
|Original Title:||On the Computation of the Hausdorff Dimension of the Walrasian Economy:Further Notes|
|Keywords:||Fractal Attractors, Contractive Mappings, Self-similarity, Hausdorff Dimension of an Economy,Hausdorff Dimension of Economic Time Series|
|Subjects:||C - Mathematical and Quantitative Methods > C6 - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
A - General Economics and Teaching > A1 - General Economics
C - Mathematical and Quantitative Methods > C2 - Single Equation Models; Single Variables
|Depositing User:||C-Rene Dominique|
|Date Deposited:||10. Aug 2009 10:42|
|Last Modified:||16. Feb 2013 05:28|
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* Formerly Professor of Economics