Bayesian General Equilibrium

Published in Economic Theory, 2015

This is a follow up paper of Toda (2010). The idea is to interpret a Walras equilibrium as a special limiting case of a statistical equilibrium. I started working on this project in 2009 to prepare for my second-year qualifying exam (which is oral) at Yale. Truman Bewley, Don Brown, and John Geanakoplos advised me on this project, and later Don Brown advised me against it because I wouldn’t get an academic job with this topic. Following his advice, I let the project go, but after getting an academic job in 2013, I went back to it and published.

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