The paper introduces an abstract economy with imperfect competition; the choice of allocation takes place through an abstract mechanism, when produceres choose strategies and the outcome is (a set of) feasible allocations, where the consumers' choices are sustained by the market mechanism at some prices. We show that with a wide range of assumptions on producer preferences, the equilibrium outcome in this economy are ordinary compensated equilibria, possibly in an economy with production externalities.
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Paper provided by Carleton - School of Public Administration in its series Papers with number
00-01.
Find related papers by JEL classification: A10 - General Economics and Teaching - - General Economics - - - General D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
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