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Law of Large Numbers for Dynamic Bargaining Markets
Published online by Cambridge University Press: 14 July 2016
Abstract
We describe the random meeting motion of a finite number of investors in markets with friction as a Markov pure-jump process with interactions. Using a sequence of these, we prove a functional law of large numbers relating the large motions with the finite market of the so-called continuum of agents.
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- Copyright © Applied Probability Trust 2008
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