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On Market Equilibrium Analysis

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  • Chavas, Jean-Paul
  • Cox, Thomas L.

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.

Suggested Citation

  • Chavas, Jean-Paul & Cox, Thomas L., 1996. "On Market Equilibrium Analysis," Staff Papers 12615, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    • Handle: RePEc:ags:wisagr:12615
    DOI: 10.22004/ag.econ.12615
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    References listed on IDEAS

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    2. Perrin, Richard K. & Fulginiti, Lilyan E., 1998. "Technological Change And Welfare In An Economy With Distortions," 1998 Annual meeting, August 2-5, Salt Lake City, UT 21013, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Reed, Albert J. & Levedahl, J. William & Hallahan, Charles B., 2004. "The Generalized Composite Commodity Theorem And Food Demand Estimation," 2004 Annual meeting, August 1-4, Denver, CO 20107, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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