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Abstract Of On Market Equilibrium Analysis

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  • Jean Paul CHAVAS

    ()

  • Thomas L. COX

    ()

Abstract

The paper develops the implications of competitive market equilibrium for production and household behavior when some prices are endogenously determined. The properties of market equilibrium functions are explored, including the effects of pricing policy. A Slutsky-type equation relating compensated and uncompensated market equilibrium functions is derived. Implications for multi-market welfare analysis are presented, focusing on the effects of pricing policy and technical change.

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File URL: http://agecon.lib.umn.edu/wis/stpap393.pdf
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Bibliographic Info

Paper provided by University of Wisconsin Madison, AAE in its series Staff Papers with number 393.

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Date of creation: Mar 1996
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Handle: RePEc:wop:wiaesp:393

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Postal: University of Wisconsin, Dept. of Agricultural and Applied Economics, 427 Lorch Street, Madison, WI 53706
Phone: 608-262-8966
Fax: 608-262-4376
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Web page: http://www.aae.wisc.edu/
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  1. Just, Richard E & Hueth, Darrell L, 1979. "Welfare Measures in a Multimarket Framework," American Economic Review, American Economic Association, vol. 69(5), pages 947-54, December.
  2. Braulke, Michael, 1987. "On the Comparative Statics of a Competitive Industry," American Economic Review, American Economic Association, vol. 77(3), pages 479-85, June.
  3. Ronald W. Jones, 1965. "The Structure of Simple General Equilibrium Models," Journal of Political Economy, University of Chicago Press, vol. 73, pages 557.
  4. Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February.
  5. Braulke, Michael, 1984. "The Firm in Short-run Industry Equilibrium: Comment," American Economic Review, American Economic Association, vol. 74(4), pages 750-53, September.
  6. Heiner, Ronald A, 1982. "Theory of the Firm in "Short-Run" Industry Equilibrium," American Economic Review, American Economic Association, vol. 72(3), pages 555-62, June.
  7. John E. Floyd, 1965. "The Effects of Farm Price Supports on the Returns to Land and Labor in Agriculture," Journal of Political Economy, University of Chicago Press, vol. 73, pages 148.
  8. Hazilla, Michael & Kopp, Raymond J, 1990. "Social Cost of Environmental Quality Regulations: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 853-73, August.
  9. Thurman, Walter N. & Easley, J. Jr., 1992. "Valuing changes in commercial fishery harvests: A general equilibrium derived demand analysis," Journal of Environmental Economics and Management, Elsevier, vol. 22(3), pages 226-240, May.
  10. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September.
  11. Diewert, W Erwin, 1981. "The Elasticity of Derived Net Supply and a Generalized Le Chatelier Principle," Review of Economic Studies, Wiley Blackwell, vol. 48(1), pages 63-80, January.
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