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The Marginal Pricing Rule in Economies with Infinitely Many Commodities

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Author Info
Jean-Marc Bonnisseau (University of Paris 1)

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Abstract

In this paper, we consider an economy with infinitely many commodities and non-convex production sets. We propose a definition of the marginal pricing rule which allows us to encompass the case of smooth and convex production sets. We also show the link with the definition used in a finite dimensional setting where the marginal pricing rule is defined by means of the Clarke's normal cone. We prove the existence of a marginal pricing equilibrium under assumptions similar to the one given for an economy with a finite set of commodities.

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Paper provided by Econometric Society in its series Econometric Society World Congress 2000 Contributed Papers with number 0262.

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Date of creation: 01 Aug 2000
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Handle: RePEc:ecm:wc2000:0262

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Chris Shannon., 1994. "Increasing Returns in Infinite Horizon Economies," Economics Working Papers 94-232, University of California at Berkeley. [Downloadable!]
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  2. Bonnisseau, Jean-Marc & Meddeb, Moncef, 1999. "Existence of equilibria in economies with increasing returns and infinitely many commodities," Journal of Mathematical Economics, Elsevier, vol. 31(3), pages 287-307, April. [Downloadable!] (restricted)
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  3. Bewley, Truman F., 1972. "Existence of equilibria in economies with infinitely many commodities," Journal of Economic Theory, Elsevier, vol. 4(3), pages 514-540, June. [Downloadable!] (restricted)
  4. Guesnerie, Roger, 1975. "Pareto Optimality in Non-Convex Economies," Econometrica, Econometric Society, vol. 43(1), pages 1-29, January. [Downloadable!] (restricted)
  5. Cornet, B., 1988. "Marginal Cost Pricing And Pareto Optimality," Papers 8837, Catholique de Louvain - Center for Operations Research and Economics.
  6. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 119-147, April. [Downloadable!] (restricted)
  7. Cornet, Bernard, 1988. "Topological properties of the attainable set in a non-convex production economy," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 275-292, April. [Downloadable!] (restricted)
  8. Khan, M Ali & Vohra, Rajiv, 1987. "An Extension of the Second Welfare Theorem to Economies with Nonconvexities and Public Goods," The Quarterly Journal of Economics, MIT Press, vol. 102(2), pages 223-41, May. [Downloadable!] (restricted)
  9. Bonnisseau, Jean-Marc & Cornet, Bernard, 1990. "Existence of Marginal Cost Pricing Equilibria in Economies with Several Nonconvex Firms," Econometrica, Econometric Society, vol. 58(3), pages 661-82, May. [Downloadable!] (restricted)
  10. Bonnisseau, Jean-Marc & Cornet, Bernard, 1990. "Existence of Marginal Cost Pricing Equilibria: The Nonsmooth Case," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(3), pages 685-708, August. [Downloadable!] (restricted)
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  11. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Valuation equilibrium and pareto optimum in non-convex economies," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 293-308, April. [Downloadable!] (restricted)
  12. Jouini, Elyes, 1988. "A remark on Clarke's normal cone and the marginal cost pricing rule," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 309-315, April. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Khan, M. Ali Khan, 2007. "Perfect Competition," MPRA Paper 2202, University Library of Munich, Germany. [Downloadable!]
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