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Arbitrary small indivisibilities

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  • Michael Florig

Abstract

Arbitrary small indivisibilities may play an important role when the strong survival assumption does not hold. A hierarchic price is a finite ordered family of price vectors . It extends the notion of exchange values proposed by Gay [15]. These price notions were introduced in order to establish the existence of a generalized competitive equilibrium without the strong survival assumption. We show that a hierarchic price models phenomena related to small indivisibilities which the standard approach may not capture. More precisely, we prove in the framework of linear exchange economies that a hierarchic price may be seen as a standard price of an economy with arbitrary small indivisibilities. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • Michael Florig, 2003. "Arbitrary small indivisibilities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 22(4), pages 831-843, November.
  • Handle: RePEc:spr:joecth:v:22:y:2003:i:4:p:831-843
    DOI: 10.1007/s00199-002-0347-y
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    File URL: http://hdl.handle.net/10.1007/s00199-002-0347-y
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    Citations

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    Cited by:

    1. Michael Florig & Jorge Rivera, 2017. "Walrasian equilibrium as limit of competitive equilibria without divisible goods," Working Papers wp451, University of Chile, Department of Economics.
    2. Jean-Marc Bonnisseau & Michael Florig, 2003. "Existence and optimality of oligopoly equilibria in linear exchange economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 22(4), pages 727-741, November.
    3. Michael Florig & Jorge Rivera Cayupi, 2015. "Walrasian equilibrium as limit of a competitive equilibrium without divisible goods," Working Papers wp404, University of Chile, Department of Economics.
    4. repec:spr:joptap:v:120:y:2004:i:1:d:10.1023_b:jota.0000012734.59679.9a is not listed on IDEAS
    5. Jorge Rivera C. & Michael Florig, 2005. "Walrasian equilibrium as limit of competitive equilibrium without divisible," Working Papers wp214, University of Chile, Department of Economics.

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