英文标题：
《The Invisible Hand of Laplace: the Role of Market Structure in Price
Convergence and Oscillation》
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作者：
Yuval Rabani and Leonard J. Schulman
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最新提交年份：
2016
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英文摘要：
A fundamental question about a market is under what conditions, and then how rapidly, does price signaling cause price equilibration. Qualitatively, this ought to depend on how well-connected the market is. We address this question quantitatively for a certain class of Arrow-Debreu markets with continuous-time proportional t\\^{a}tonnement dynamics. We show that the algebraic connectivity of the market determines the effectiveness of price signaling equilibration. This also lets us study the rate of external noise that a market can tolerate and still maintain near-equilibrium prices.
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中文摘要：
关于市场的一个基本问题是，在什么条件下，价格信号会以多快的速度导致价格均衡。从质量上讲，这应该取决于市场的关联程度。对于一类具有连续时间比例t^a}吨动态的Arrow-Debreu市场，我们定量地解决了这个问题。我们证明了市场的代数连通性决定了价格信号均衡的有效性。这也让我们能够研究外部噪音的比率，即市场能够容忍并保持接近均衡的价格。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：Economics 经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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