Minimal entropy and uniqueness of price equilibria in a pure exchange economy

B-Tier
Journal: Journal of Mathematical Economics
Year: 2021
Volume: 97
Issue: C

Authors (2)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We introduce uncertainty into a pure exchange economy and establish a connection between Shannon’s differential entropy and uniqueness of price equilibria. The following conjecture is proposed under the assumption of a uniform probability distribution: entropy is minimal if and only if the price is unique for every economy. We show the validity of this conjecture for an arbitrary number of goods and two consumers and, under certain conditions, for an arbitrary number of consumers and two goods.

Technical Details

RePEc Handle
repec:eee:mateco:v:97:y:2021:i:c:s030440682100118x
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25