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Walrasian Equilibria in a Production Economy with Indivisibilities

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Author Info
Jinpeng Ma () (Economics, Rutgers University, Camden, NJ 08102)
Abstract

This paper studies a production economy with indivisibilities. We provide a characterization for all Walraian equilibria and a necessary and sufficient condition for the existence of Walrasian equilibrium. We find a sufficient condition for every descening (ascending) price process to converge to a Walrasian equilibrium within finite periods of time.

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Publisher Info
Paper provided by Rutgers University, Department of Economics in its series Departmental Working Papers with number 199712.

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Date of creation: 17 Sep 1997
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Handle: RePEc:rut:rutres:199712

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Related research
Keywords: Walrasian Equilibrium;

Find related papers by JEL classification:
D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition

References listed on IDEAS
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  1. Bikhchandani, Sushil & Mamer, John W., 1997. "Competitive Equilibrium in an Exchange Economy with Indivisibilities," Journal of Economic Theory, Elsevier, vol. 74(2), pages 385-413, June. [Downloadable!] (restricted)
  2. Gul, F. & Stacchetti, E., 1997. "Walrasian Equilibrium Without Complementarities," Papers 97-03, Michigan - Center for Research on Economic & Social Theory.
  3. Crawford, Vincent P & Knoer, Elsie Marie, 1981. "Job Matching with Heterogeneous Firms and Workers," Econometrica, Econometric Society, vol. 49(2), pages 437-50, March. [Downloadable!] (restricted)
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This page was last updated on 2009-12-18.

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