Competition and the Core
AbstractCore theory is a powerful tool to find competitive market-clearing prices. A familiar economic setting shows this, beginning with a single commodity produced using many factors of production and ending with the general case of many outputs and inputs. The analysis describes when the market has a core. When it has no core, there is a least upper bound on the payment each firm that does not participate in a central market must make that serves as an inducement to restore the core. Each firm can avoid this penalty by trading in the central market, resulting in market-clearing prices. Copyright 1996 by University of Chicago Press.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 104 (1996)
Issue (Month): 1 (February)
Contact details of provider:
Web page: http://www.journals.uchicago.edu/JPE/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Jeroen C.J.M. van den Bergh & John M. Gowdy, 1998.
"Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications,"
Tinbergen Institute Discussion Papers
98-122/3, Tinbergen Institute.
- Jeroen van den Bergh & John Gowdy, 2000. "Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 17(1), pages 37-57, September.
- repec:dgr:uvatin:1997047 is not listed on IDEAS
- J.A. den Hertog, 2010. "Review of economic theories of regulation," Working Papers 10-18, Utrecht School of Economics.
- repec:dgr:uvatin:2098122 is not listed on IDEAS
- Gowdy, John, 1997. "Introduction: biology and economics," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 377-383, October.
- repec:dgr:uvatin:1998122 is not listed on IDEAS
- Czerny, Achim I. & Mitusch, Kay, 2005. "Cooperation and competition in the cargo liner shipping industry," Discussion Papers 2005/3, Technische Universität Berlin, School of Economics and Management.
- repec:dgr:uvatin:2097047 is not listed on IDEAS
- Kenneth Button & Peter Nijkamp, 1997. "Network Industries, Economic Stability and Spatial Integration," Tinbergen Institute Discussion Papers 97-047/3, Tinbergen Institute.
- Enrico Guzzini & Antonio Palestrini, 2009. "The empty core in the Coase theorem: a critical assessment," Economics Bulletin, AccessEcon, vol. 29(4), pages 3095-3103.
- Bos Iwan & Pot Erik, 2010. "Welfare-Enhancing Hard Core Cartels," Research Memoranda 004, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division).
If references are entirely missing, you can add them using this form.