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Equilibria with increasing returns : sufficient conditions on bounded production allocations

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Author Info

  • Jean-Marc Bonnisseau

    ()
    (CERMSEM)

  • Alexandrine Jamin

    ()
    (CERMSEM)

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 considering 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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File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2005/B05045.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b05045.

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Length: 36 pages
Date of creation: Apr 2003
Date of revision: Jun 2005
Handle: RePEc:mse:wpsorb:b05045

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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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References

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  1. Bonnisseau, J.-M. & Cornet, B., 1986. "Fixed-point theorems and Morse’s lemma for Lipschitzian functions," CORE Discussion Papers 1986028, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. DEHEZ, Pierre & DREZE, Jacques, 1987. "Distributive production sets and equilibria with increasing returns," CORE Discussion Papers 1987001, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Guesnerie, Roger, 1975. "Pareto Optimality in Non-Convex Economies," Econometrica, Econometric Society, vol. 43(1), pages 1-29, January.
  4. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation for Research in Economics, Yale University.
  5. Dierker, Egbert & Guesnerie, Roger & Neuefeind, Wilhelm, 1985. "General Equilibrium When Some Firms Follow Special Pricing Rules," Econometrica, Econometric Society, vol. 53(6), pages 1369-93, November.
  6. 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.
  7. Cornet, B., 1984. "Existence of equilibria in economies with increasing returns," CORE Discussion Papers 1984007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. 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.
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Citations

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Cited by:
  1. Jean-Marc Bonnisseau & Bernard Cornet, 2006. "Existence of equilibria with a tight marginal," Cahiers de la Maison des Sciences Economiques b06022, Université Panthéon-Sorbonne (Paris 1).
  2. repec:hal:cesptp:halshs-00084002 is not listed on IDEAS
  3. Bonnisseau, J.-M. & Cornet, B., 2008. "Existence of equilibria with a tight marginal pricing rule," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 613-624, July.
  4. Alexandrine Jamin & Antoine Mandel, 2006. "A general equilibrium analysis of emission allowances," Cahiers de la Maison des Sciences Economiques b06003, Université Panthéon-Sorbonne (Paris 1).
  5. repec:hal:cesptp:halshs-00654013 is not listed on IDEAS
  6. Jean-Marc Bonnisseau & Vincent Iehle, 2004. "Payoffs-dependent Balancedness and Cores," Game Theory and Information 0403004, EconWPA.
  7. 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 11070, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.

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