In continuum economies when some random allotment is independently made to the agents, it is required that the effective result of the allotment be equal to its expected value. This statement is upheld by some informal statement of a "law of large numbers". In the standard version of this statement this properties are contradictory. In the paper we illustrate the phenomenon and suggest a simple and intuitive solution based on mean square integration.
"LAWS OF LARGE NUMBERS" IN CONTINUUM ECONOMIES
CORIELLI, FRANCESCO
1997
Abstract
In continuum economies when some random allotment is independently made to the agents, it is required that the effective result of the allotment be equal to its expected value. This statement is upheld by some informal statement of a "law of large numbers". In the standard version of this statement this properties are contradictory. In the paper we illustrate the phenomenon and suggest a simple and intuitive solution based on mean square integration.
File in questo prodotto:
Non ci sono file associati a questo prodotto.
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
