<p>For each agent in the economy, create n agents with the same endowment and preferences. The result is the replication economy. Sometimes n is taken to infinity in proofs. 
Chapter 17.I in Mas-Colell explains in detail. Related material is the regularizing effects of aggregation, appendix of Chapter 4.</p>

CC BY-SA 3.0
2015-11-10T18:23:57.550Z
Thanks a lot for your reply. If that's the definition, can I also ask you why when consumers preferences are strictly convex, this implies that there is no equilibrium in the overall economy generated by replication? It seems to me in this case the equilibrium is unique but at the same time is symmetric to every consumers and thus seems to be a replication?
Kenneth Chen
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2015-11-10T18:27:34.960Z
Preferences convex or utility functions convex? Because convex preferences are a good thing for equilibrium existence.
Sander Heinsalu
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2015-11-10T20:34:09.070Z
Preferences convex
Kenneth Chen
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2015-11-10T21:31:13.137Z
@Kenneth Chen I don't think this statement holds without additional assumptions/context.
Giskard
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2015-11-10T21:32:51.173Z
@denesp If so what would that possibly be? Right now I'm still confused what does no equilibrium with replication mean.
Kenneth Chen
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2015-11-10T22:00:20.693Z
@KennethChen Since you are the one reading the book you probably know more about the text surrounding this statement than I do. (Unfortunately I don't have the book.)
Giskard
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2015-11-10T22:01:48.583Z
@denesp That's a fair point, and this statement just came out of nowhere in the solution for a particular exercise. Up till now I'm still trying to understand what does it mean.
Kenneth Chen
CC BY-SA 3.0
2015-11-10T18:21:46.910Z
2015-11-10T18:26:24.610Z
2015-11-10T18:26:24.610Z
Sander Heinsalu
<p>Sorry this might be a little too rudimentary for you, but I'm not an Econ background. When I was doing exercises for MGW chapter 17 "Positive Existence of Equilibrium" I came across the following statement </p>

<blockquote>
  <p>The consumers preferences are strictly convex, this implies that there is no equilibrium in the overall economy generated by replication.</p>
</blockquote>

<p>What doe <strong>equilibrium generated by replication</strong> mean? I couldn't find it in the text. </p>

<p>Thanks in advance.</p>

<microeconomics><general-equilibrium>
What is an equilibrium generated by replication?
Kenneth Chen
# What is an equilibrium generated by replication?

(Asked by: username_0 on 2015-11-09)

Sorry this might be a little too rudimentary for you, but I'm not an Econ background. When I was doing exercises for MGW chapter 17 "Positive Existence of Equilibrium" I came across the following statement

> The consumers preferences are strictly convex, this implies that there is no equilibrium in the overall economy generated by replication.

What doe **equilibrium generated by replication** mean? I couldn't find it in the text.

Thanks in advance.

**Tags:** microeconomics, general-equilibrium


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## 1 answers

### Answer by username_1 on 2015-11-10. Score: 2 | Accepted answer

For each agent in the economy, create n agents with the same endowment and preferences. The result is the replication economy. Sometimes n is taken to infinity in proofs.
Chapter 17.I in Mas-Colell explains in detail. Related material is the regularizing effects of aggregation, appendix of Chapter 4.

> **Comments:**
> **username_0**: Thanks a lot for your reply. If that's the definition, can I also ask you why when consumers preferences are strictly convex, this implies that there is no equilibrium in the overall economy generated by replication? It seems to me in this case the equilibrium is unique but at the same time is symmetric to every consumers and thus seems to be a replication?  
> **username_1**: Preferences convex or utility functions convex? Because convex preferences are a good thing for equilibrium existence.  
> **username_0**: Preferences convex  
> **username_2**: @username_0 I don't think this statement holds without additional assumptions/context.  
> **username_0**: @denesp If so what would that possibly be? Right now I'm still confused what does no equilibrium with replication mean.  
> **username_2**: @username_0 Since you are the one reading the book you probably know more about the text surrounding this statement than I do. (Unfortunately I don't have the book.)  
> **username_0**: @denesp That's a fair point, and this statement just came out of nowhere in the solution for a particular exercise. Up till now I'm still trying to understand what does it mean.  

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