MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 - Lecture 17: Existence of Equilibria

MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF An equilibrium with competitive markets implies a particular distribution of income, which some may not like. Nevertheless, there is a way to get to any Pareto Do competitive markets always function well? Existence of a competitive equilibrium is not to be taken for granted. How can computer science contribute in computation? What if participants are few in number and act strategically? What does it mean for a trade to fail and why does this happen? What is the ex ante optimal design of market structures needed to support competitive outcomes? License: Creative Commons BY-NC-SA More information at https://ocw.mit.edu/terms More courses at https://ocw.mit.edu Support OCW at http://ow.ly/a1If50zVRlQ We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.