A Model Distinguishing Production and Consumption Bundles
AbstractIn contrast to the neo-classical theory of Arrow and Debreu, a model of a private ownership economy is presented in which production and consumption bundles are treated separately. Each of the two types of bundles is assumed to establish a convex cone. The main part in the modelling is the introduction of production technologies which can be thought of as replacing the notion of production sets in Arrow and Debreu’s model. It is a point of further investigationwhether the notion of production technology is also generating the notion of production set
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 1998-84.
Date of creation: 1998
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mathematical models; production; consumption;
Find related papers by JEL classification:
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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- Schalk, S., 1999. "Restriction of Preferences to the Set of Consumption Bundles, In a Model with Production and Consumption Bundles," Discussion Paper 1999-89, Tilburg University, Center for Economic Research.
- Schalk, S., 1999. "Proof of the Existence Theorem of a Model Distinguishing Production and Consumption Bundles," Discussion Paper 1999-22, Tilburg University, Center for Economic Research.
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