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Walrasian Equilibrium Without Complementarities

Author

Listed:
  • Gul, F.
  • Stacchetti, E.

Abstract

In this paper we study the problem of ecient production and allocation of indi- visible objects among a set of consumers. We assume that the agents' preferences depend on the bundle of objects and the quantity of money they consume. Further- more, we assume that preferences are quasilinear in money, and that agents have a large endowment of money.

Suggested Citation

  • Gul, F. & Stacchetti, E., 1997. "Walrasian Equilibrium Without Complementarities," Papers 97-03, Michigan - Center for Research on Economic & Social Theory.
    • Handle: RePEc:fth:michet:97-03
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    Citations

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    Cited by:

    1. Jinpeng Ma, 1997. "Walrasian Equilibria in a Production Economy with Indivisibilities," Departmental Working Papers 199712, Rutgers University, Department of Economics.
    2. Jinpeng Ma, 1997. "English Auctions and Walrasian Equilibria with Multiple Objects: a dynamic approach," Departmental Working Papers 199702, Rutgers University, Department of Economics.
    3. Lahiri, Somdeb, 2008. "Envy-free solutions, Non-linear equilibrium and Egalitarian-equivalence for the Package Assignment Problem," MPRA Paper 8444, University Library of Munich, Germany.
    4. Peter R. Wurman & Michael P. Wellman, 1999. "Equilibrium Prices in Bundle Auctions," Working Papers 99-09-064, Santa Fe Institute.
    5. Ma, Jinpeng, 1998. "Competitive Equilibrium with Indivisibilities," Journal of Economic Theory, Elsevier, vol. 82(2), pages 458-468, October.
    6. William E. Walsh & Michael P. Wellman, 1999. "Efficiency and Equilibrium in Task Allocation Economics with Hierarchical Dependencies," Working Papers 99-07-049, Santa Fe Institute.
    7. Paul Milgrom, 2000. "Putting Auction Theory to Work: The Simultaneous Ascending Auction," Journal of Political Economy, University of Chicago Press, vol. 108(2), pages 245-272, April.

    More about this item

    Keywords

    PRODUCTION ; ECONOMIC THEORY ; ECONOMIC EQUILIBRIUM;
    All these keywords.

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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