caa a22 4500 605475717 CHVBK 20210128100353.0 cr unu---uuuuu 210128e20150201xx s 000 0 eng 10.1007/s00199-014-0849-4 doi (NATIONALLICENCE)springer-10.1007/s00199-014-0849-4 Toda Alexis Department of Economics, University of California San Diego, 9500 Gilman Dr, 92093, La Jolla, CA, USA aut Bayesian general equilibrium [Elektronische Daten] [Alexis Toda] I introduce a general equilibrium model of non-optimizing agents that respond to aggregate variables (prices and the average demand profile of agent types) by putting a "prior” on their demand. An interim equilibrium is defined by the posterior demand distribution of agent types conditional on market clearing. A Bayesian general equilibrium (BGE) is an interim equilibrium such that aggregate variables are correctly anticipated. Under weak conditions, I prove the existence and the informational efficiency of BGE. I discuss the conditions under which the set of Bayesian and Walrasian equilibria coincide and show that the Walrasian equilibrium arises from a large class of non-optimizing behavior. Springer-Verlag Berlin Heidelberg, 2014 Bayes rule nationallicence Distribution nationallicence Kullback-Leibler information nationallicence Maximum entropy nationallicence Economic Theory Springer Berlin Heidelberg 58/2(2015-02-01), 375-411 0938-2259 58:2<375 2015 58 199 https://doi.org/10.1007/s00199-014-0849-4 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s00199-014-0849-4 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Toda Alexis Department of Economics, University of California San Diego, 9500 Gilman Dr, 92093, La Jolla, CA, USA aut NATIONALLICENCE 773 0- Economic Theory Springer Berlin Heidelberg 58/2(2015-02-01), 375-411 0938-2259 58:2<375 2015 58 199