Myopic profit-seeking firm reallocation with quadratic costs is a Wasserstein gradient flow whose long-run fixed point maximizes aggregate consumption, with several robustness extensions and EU firm-level calibration.
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The invisible hand as an emergent property: a gradient flow approach
Myopic profit-seeking firm reallocation with quadratic costs is a Wasserstein gradient flow whose long-run fixed point maximizes aggregate consumption, with several robustness extensions and EU firm-level calibration.