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Replication data for: Coarse Competitive Equilibrium and Extreme Prices

Version
1
Resource Type
Dataset
Creator
  • Gul, Faruk
  • Pesendorfer, Wolfgang
  • Strzalecki, Tomasz
Publication Date
2017-01-01
Description
  • Abstract

    We introduce a notion of coarse competitive equilibrium, to study agents' inability to tailor their consumption to prices. Our goal is to incorporate limited cognitive ability (in particular limited attention, memory, and complexity) into the analysis of competitive equilibrium. Compared to standard competitive equilibrium, our concept yields more extreme prices and, when all agents have the same endowment, riskier allocations. We provide a tractable model suitable for general equilibrium analysis as well as asset pricing.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20141287 (Text)
Publications
  • Gul, Faruk, Wolfgang Pesendorfer, and Tomasz Strzalecki. “Coarse Competitive Equilibrium and Extreme Prices.” American Economic Review 107, no. 1 (January 2017): 109–37. https://doi.org/10.1257/aer.20141287.
    • ID: 10.1257/aer.20141287 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Gul, Faruk; Pesendorfer, Wolfgang; Strzalecki, Tomasz (2017): Replication data for: Coarse Competitive Equilibrium and Extreme Prices. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113007V1