Individual Randomness in Economic Models with a Continuum Agents

Working Papers from Washington St. Louis - School of Business and Political Economy

Abstract: The lack of a law of large numbers for a continuum of random variables has casted doubt on several important economic models. This work presents a new framwork for the analysis of stochastic mass phenomena in economic, without departing from usual measure theory techniques.

Keywords: RANDOM VARIABLES; ECONOMIC MODELS (search for similar items in EconPapers)
JEL-codes: C60 D80 (search for similar items in EconPapers)
Pages: 25 pages
Date: 1998
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:waslbp:9807

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