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Walrasian Equilibrium Computation, Network Formation, and the Wen Theorem

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  • Shuntian Yao

Abstract

The paper studies the Walrasian equilibrium theory of division of labor for large economies with weakly convex production techniques and with the presence of transaction costs. Earlier results published by Wen are revised and generalized so that the new versions can be applied to a much larger category of economic models. A simple example demonstrates how the theoretical results can be used for Walrasian equilibrium computation and equilibrium network structure identification.

Suggested Citation

  • Shuntian Yao, 2002. "Walrasian Equilibrium Computation, Network Formation, and the Wen Theorem," Review of Development Economics, Wiley Blackwell, vol. 6(3), pages 415-427, October.
    • Handle: RePEc:bla:rdevec:v:6:y:2002:i:3:p:415-427
    DOI: 10.1111/1467-9361.00164
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    Cited by:

    1. Robert P. Gilles, 2018. "The Core of an Economy with an Endogenous Social Division of Labour," Papers 1809.01470, arXiv.org.
    2. Diamantaras, Dimitrios & Gilles, Robert P., 2004. "On the microeconomics of specialization," Journal of Economic Behavior & Organization, Elsevier, vol. 55(2), pages 223-236, October.
    3. Cheng, Wenli & Yang, Xiaokai, 2004. "Inframarginal analysis of division of labor: A survey," Journal of Economic Behavior & Organization, Elsevier, vol. 55(2), pages 137-174, October.

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