IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Price Singularities: Representation vs. Exclusion - (Now published as 'Boiteux's solution to the shifting-peak problem and the equilibrium price density in continuous time', in Economic Theory, vol. 20 (2002), pp.503-537.)

Listed author(s):
  • Anthony Horsley
  • Andrew J Wrobel

Bewley's programme of excluding price singularities in equilibrium solutions for commodity spaces of bounded functions is reconsidered. From two recent examples in which singularities are indispensable, viz., marginal cost pricing in continuous time and an overlapping generations model, it is concluded that, although L?-model makes sense only when prices are represented by densities, price singularities can be incorporated by restricting the commodity space to be subspace of L?. Bewley's approach is rejiged for use in continuous time by weakening his Exclusion Assumption to obtain a price density result with extended applicability; also, the Mackey topology is replaced by the topology of convergence measure, which is simpler and more closely matches the economic properties modelled.

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Paper provided by Suntory and Toyota International Centres for Economics and Related Disciplines, LSE in its series STICERD - Theoretical Economics Paper Series with number 232.

in new window

Date of creation: 1991
Handle: RePEc:cep:stitep:232
Contact details of provider: Web page:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cep:stitep:232. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.