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Walrasian versus quasi-competitive equilibrium and the core of a production economy

In: Rationality and Equilibrium

Author

Listed:
  • James C. Moore

    (Purdue University)

Abstract

Summary This paper presents very general conditions guaranteeing that a quasicompetitive equilibrium is a Walrasian equilibrium. We also develop a generalization (and a simplified proof) of Nikaido’s and McKenzie’s extensions of the classic Debreu-Scarf theorem on core convergence, and apply the first result to obtain an equivalence between the set of Edgeworth equilibria and the set of Walrasian equilibria in a production economy.

Suggested Citation

  • James C. Moore, 2006. "Walrasian versus quasi-competitive equilibrium and the core of a production economy," Studies in Economic Theory, in: Charalambos D. Aliprantis & Rosa L. Matzkin & Daniel L. McFadden & James C. Moore & Nicholas C. Yann (ed.), Rationality and Equilibrium, pages 103-117, Springer.
  • Handle: RePEc:spr:steccp:978-3-540-29578-5_6
    DOI: 10.1007/3-540-29578-X_6
    as

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