One of the walrassian assumptions of the competitive, Business Economics

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One of the walrassian assumptions of the competitive

One of the walrassian assumptions of the competitive (Walrasian) mechanism is all agents are endowed with "perfect information".

What does it mean and what are the distinguishing characteristics? What other assumptions of the competitive mechanism support the perfect information assumption?

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Business Economics: One of the walrassian assumptions of the competitive

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Business Economics: One of the walrassian assumptions of the competitive

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