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Indétermination et inefficacité des modèles de marchés de biens conditionnels à points de rationnement

Listed author(s):
  • Jean-Michel Courtault

[eng] Indeterminacy and inefficiency in a model of markets with rationing Following Fischer [1972], we show in this paper (in the case of one physical good) the existence of a problem economically equivalent to the canonical consumer problem under uncertainty which is formally isomorphic to the problem of consumer choice under rationing. This amounts to generalise the result of Arrow [1964] on the equivalence of Arrow-Debreu model of complete contingent markets and the model of complete financial markets with spot markets. We then use the model of rationing to study the problem of indetermination and inefficiency of general equilibrium. [fre] Indétermination et inefficacité des modèles de marchés de biens conditionnels à points de rationnement Nous montrons dans cet article, à la suite de Fischer [1972], qu'il est possible de formuler (dans le cas d'un bien physique unique) un problème économiquement équivalent au problème canonique du consommateur en situation d'incertitude et formellement isomorphe au problème du choix du consommateur en situation de rationnement. Ceci revient à généraliser au cas des marchés financiers incomplets le résultat d'Arrow [1964] sur l'équivalence entre le modèle des marchés de biens conditionnels complets et le modèle des marchés financiers complets et des marchés de biens au comptant. Nous étudions ensuite dans le cadre du modèle à points de rationnement le problème de l'indétermination et de l'inefficacité de l'équilibre général.

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Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 49 (1998)
Issue (Month): 2 ()
Pages: 367-392

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Handle: RePEc:prs:reveco:reco_0035-2764_1998_num_49_2_409983
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