bounded rationality 1demand theory 1discrete choice 1information theory 1rate distortion 1rational inattention 1
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econ.TH2026
Choice at Finite Capacity: The Bounded Agent as an Information Channel and the Recovery of Walrasian Demand
Avishek Bhandari
The paper models consumers as limited‑capacity information channels, using rate‑distortion theory to derive a probabilistic demand function that converges to the classic Walrasian…
econ.TH2026
Rational Bubbles at the Spectral Edge: An Operator-Spectral Theory of Fragility, Identification and Finite-Sample Certification
Avishek Bhandari
When markets move more and more in lockstep, are they drifting towards the point where a price bubble becomes possible, and can that drift be measured before the crossing? This pap…
econ.TH2026
Equilibrium as a Limit: The Competitive Canon Nested in an Adaptive, Information-Theoretic Economy
Avishek Bhandari
The competitive equilibrium of general equilibrium theory exists as a fixed point and is, by the theorys own results on aggregate excess demand, in general silent on whether that f…