We represent an exchange economy in terms of statistical ensembles for complex networks by introducing the concept of market configuration. In this way, starting from economic reasoning, we obtain a sound interpretation of the typical network variables in terms of thermodynamic quantities together with a strong consistency with microeconomic theory, and in particular with Walrasian\} describing the flow of a given commodity from agent i to agent j. This sequence can be arranged in a nonnegative matrix W which we can regard as the representation of a weighted and directed network or digraph G. Our main result consists in showing that } general equilibrium theory . In our formalism, naturally arises the interpretation of the temperature T as a quantification of economic disequilibrium, which can indeed coexist with statistical equilibrium .
We represent an exchange economy in terms of statistical ensembles for complex networks by introducing the concept of market configuration. This is defined as a sequence of nonnegative discrete random variables \{w_{ij\} describing the flow of a given commodity from agent i to agent j. This sequence can be arranged in a nonnegative matrix W which we can regard as the representation of a weighted and directed network or digraph G. Our main result consists in showing that } general equilibrium theory imposes highly restrictive conditions upon market configurations, which are in most cases not fulfilled by real markets. An explicit example with reference to the e-MID interbank credit market is provided .
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In this way, starting from economic reasoning, we obtain a sound interpretation of the typical network variables in terms of thermodynamic quantities together with a strong consistency with microeconomic theory, and in particular with Walrasian
This is defined as a sequence of nonnegative discrete random variables \{w_{ij
R
. In our formalism, naturally arises the interpretation of the temperature T as a quantification of economic disequilibrium, which can indeed coexist with statistical equilibrium
imposes highly restrictive conditions upon market configurations, which are in most cases not fulfilled by real markets. An explicit example with reference to the e-MID interbank credit market is provided