General equilibrium, coordination and multiplicity on spot markets

Pre-print, Working paper: This is a slightly revised English version of a paper published in the "Revue d'Economie Politique" 112 (5) sept-oct 2002. The text reviews recent work on expectational coordination in general equilibrium models of the Walrasian tradition. It evokes briefly the multiplicity questions associated with infinite horizon models and the issues associated with "eductive learning". It examines in a more systematic way the coordination difficulties that would arise in finite horizon models with spot multiplicity and discusses the relationship between coordination and incompleteness.

Author(s)

Roger Guesnerie

Date of publication
  • 2006
Keywords JEL
D5 E3
Keywords
  • Équilibre général
  • Multiplicité
Internal reference
  • PSE Working Papers n°2006-05
Version
  • 1