Equilibria with Increasing Returns: Sufficient Conditions on Bounded Production Allocations
This paper deals with the existence of marginal pricing equilibrium or equilibrium with general pricing rules in an economy with increasing returns to scale or more general types of nonconvexities in production. Its main contribution is to demonstrate existence of equilibrium with bounded loss and survival assumptions required only on a bounded subset of production allocations. Furthermore, we require only a weakened form of the free-disposal assumption and we also allow nonpositive prices. Copyright � 2008 Wiley Periodicals, Inc..
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Volume (Year): 10 (2008)
Issue (Month): 6 (December)
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References listed on IDEAS
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