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Existence of equilibria when firms follow bounded losses pricing rules

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  • BONNISSEAU, Jean-Marc
  • CORNET, Bernard

Abstract

We consider a general equilibrium model of an economy with increasing returns to scale or more general types of non-convexity in production. The firms are instructed to set their prices according to general pricing rules which are supposed to have bounded losses. This includes the case of loss-free pricing rules hence, in particular, profit maximizing and average cost pricing. As for the marginal (cost) pricing rule, the bounded losses assumption for a firm is shown to be equivalent to the ‘star-shapedness' of its production set. This paper reports a general existence result in this model.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • BONNISSEAU, Jean-Marc & CORNET, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," LIDAM Reprints CORE 814, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:814
    DOI: 10.1016/0304-4068(88)90003-1
    Note: In : Journal of Mathematical Economics, 17, 1988
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