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Equilibria with increasing returns : sufficient conditions on bounded production allocations

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  • Jean-Marc Bonnisseau

    ()
    (CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - CNRS : UMR8095 - Université Paris I - Panthéon-Sorbonne)

  • Alexandrine Jamin

    ()
    (CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - CNRS : UMR8095 - Université Paris I - Panthéon-Sorbonne)

Abstract

This paper deals with the existence of marginal pricing equilibria or equilibria with general pricing rules in an economy with increasing returns to scale or more general types of non convexities in production. Its main contribution is to posit the bounded loss and survival assumptions on a bounded subset of production allocations. Furthermore, the free-disposal assumption is weaken, which allows to consider non positive prices. Finally, we also provide an existence result for a quasi-equilibria, when the survival assumption is weaken on the attainable allocations.

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Bibliographic Info

Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00194881.

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Date of creation: Jun 2005
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Handle: RePEc:hal:cesptp:halshs-00194881

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Related research

Keywords: General economic equilibrium; increasing returns; general pricing rules; bounded losses; marginal pricing rule; free disposal.;

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  1. 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.
  2. DEHEZ, Pierre & DREZE, Jacques, . "Distributive production sets and equilibria with increasing returns," CORE Discussion Papers RP -818, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation for Research in Economics, Yale University.
  4. Cornet, B., 1984. "Existence of equilibria in economies with increasing returns," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1984007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Dierker, Egbert & Guesnerie, Roger & Neuefeind, Wilhelm, 1985. "General Equilibrium When Some Firms Follow Special Pricing Rules," Econometrica, Econometric Society, Econometric Society, vol. 53(6), pages 1369-93, November.
  6. Bonnisseau, J.-M. & Cornet, B., 1986. "Fixed-point theorems and Morse’s lemma for Lipschitzian functions," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1986028, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Bonnisseau, Jean-Marc, 1992. "Existence of equilibria in the presence of increasing returns : A synthesis," Journal of Mathematical Economics, Elsevier, vol. 21(5), pages 441-452.
  8. Guesnerie, Roger, 1975. "Pareto Optimality in Non-Convex Economies," Econometrica, Econometric Society, Econometric Society, vol. 43(1), pages 1-29, January.
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Cited by:
  1. Bonnisseau, Jean-Marc & Iehlé, Vincent, 2007. "Payoff-dependant Balancedness and Cores," Economics Papers from University Paris Dauphine 123456789/89, Paris Dauphine University.
  2. Jean-Marc Bonnisseau & Bernard Cornet, 2006. "Existence of equilibria with a tight marginal," Cahiers de la Maison des Sciences Economiques, Université Panthéon-Sorbonne (Paris 1) b06022, Université Panthéon-Sorbonne (Paris 1).
  3. Alexandrine Jamin & Antoine Mandel, 2006. "A General Equilibrium Analysis of Emission Allowances," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00084002, HAL.
  4. Bernard Cornet & Jean Marc Bonnisseau, 2009. "Existence of Equilibria with a Tight Marginal Pricing Rule," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200908, University of Kansas, Department of Economics, revised Dec 2009.
  5. Jean-Marc Bonnisseau & Lalaina Rakotonindrainy, 2011. "Existence of equilibrium in OLG economies with increasing returns," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne 11070, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.

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