Typical properties of large random economies with linear activities (Articolo in rivista)

Type
Label
  • Typical properties of large random economies with linear activities (Articolo in rivista) (literal)
Anno
  • 2007-01-01T00:00:00+01:00 (literal)
Alternative label
  • De Martino, A; Marsili, M; Castillo, I (2007)
    Typical properties of large random economies with linear activities
    in Macroeconomic dynamics (Print)
    (literal)
Http://www.cnr.it/ontology/cnr/pubblicazioni.owl#autori
  • De Martino, A; Marsili, M; Castillo, I (literal)
Pagina inizio
  • 34 (literal)
Pagina fine
  • 61 (literal)
Http://www.cnr.it/ontology/cnr/pubblicazioni.owl#numeroVolume
  • 11 (literal)
Rivista
Note
  • ISI Web of Science (WOS) (literal)
Http://www.cnr.it/ontology/cnr/pubblicazioni.owl#affiliazioni
  • Abdus Salam Int Ctr Theoret Phys, I-34014 Trieste, Italy; CNR, INFM, SMC, Rome, Italy; Univ Roma La Sapienza, Dipartimento Fis, Rome, Italy; Katholieke Univ Leuven, Inst Theoret Fys, Louvain, Belgium (literal)
Titolo
  • Typical properties of large random economies with linear activities (literal)
Abstract
  • We study the competitive equilibrium of large random economies with linear activities using methods of statistical mechanics. We focus on economies with C commodities, N firms, each running a randomly drawn linear technology, and one consumer. We derive, in the limit N, C -> infinity with n = N/C fixed, a complete description of the statistical properties of typical equilibria. We find two regimes, which in the limit of efficient technologies are separated by a phase transition, and argue that endogenous technological change drives the economy close to the critical point. (literal)
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