Market Equilibrium Under The Circumstances Of Selectable Economic Conditions
AbstractThis paper presents an analysis of market equilibrium under the circumstances withseveral discrete economic conditions by using pure exchange economy model. First,as preliminary analysis, it will show the ‘temporal’ market equilibrium under a givendistribution of population over the di erent circumstances in section 2. Next, in section3 our study will prove the existence of market equilibrium in the case that economicagents can choose their economic conditions freely for their utility maximization. Finallyour research tries to approximate our model to the residential location model throughthe specified assumptions on initial endowments and agent’s preference, and it derivessome properties of equilibrium consumptions and prices.
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Bibliographic InfoPaper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2006-02.
Length: 26 pages
Date of creation: Feb 2006
Date of revision:
Publication status: Published by Ivie
equilibrium; local goods; excess utility;
Find related papers by JEL classification:
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
- R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-03-12 (All new papers)
- NEP-MIC-2006-03-13 (Microeconomics)
- NEP-UPT-2006-03-13 (Utility Models & Prospect Theory)
- NEP-URE-2006-04-07 (Urban & Real Estate Economics)
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.:
- Wheaton, William C., 1974. "A comparative static analysis of urban spatial structure," Journal of Economic Theory, Elsevier, vol. 9(2), pages 223-237, October.
- Turnbull Geoffrey K., 1993. "The Substitution Theorem in Urban Consumer Theory," Journal of Urban Economics, Elsevier, vol. 33(3), pages 331-343, May.
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