Existence of a Statistical Equilibrium for an Economy with Endogenous Offer Sets

Published in Economic Theory, 2010

This paper evolved from my master thesis at University of Tokyo. After completing my coursework in 2006-2007, I didn’t know what to write for my master thesis. My advisor Hiroshi Yoshikawa suggested that I study Foley’s (1994) statistical equilibrium model. I found the paper interesting but I thought the model does not easily extend to a production economy, so that’s what I did in my thesis. Along the way, I learned a good deal about convex optimization and duality.

Direct Link