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Non-existence of equilibria with free elimination

Author

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  • Hans-Jürgen Salchow

    ()

Abstract

This work is concerned in the existence problem of equilibria for economies with increasing returns to scale. The consequences of relaxing the free disposal assumption are investigated. It is sown that the free disposal assumption can not be dropped, not even relaxed to the assumption of free elimination, without risking that equilibria may fail to exist. This may give new insight to the work of Giraud (2000) and Jouini (1992), because they proved the existence of equilibria for economies without free disposal assuming the production sets to verify (even weaker forms of) free elimination.

Suggested Citation

  • Hans-Jürgen Salchow, 2005. "Non-existence of equilibria with free elimination," Cahiers de la Maison des Sciences Economiques b05057, Université Panthéon-Sorbonne (Paris 1).
  • Handle: RePEc:mse:wpsorb:b05057
    as

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    File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2005/B05057.pdf
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    References listed on IDEAS

    as
    1. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702.
    2. Jouini, Elyes, 1992. "Existence of equilibria in nonconvex economies without free disposal," Economics Letters, Elsevier, vol. 38(1), pages 37-42, January.
    3. repec:dau:papers:123456789/54 is not listed on IDEAS
    4. Hardle, Wolfgang & Hildenbrand, Werner & Jerison, Michael, 1991. "Empirical Evidence on the Law of Demand," Econometrica, Econometric Society, vol. 59(6), pages 1525-1549, November.
    5. GIRAUD, Gaël, 2000. "An algebraic index theorem for non-smooth economies," CORE Discussion Papers 2000016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Cornet, Bernard, 1988. "General equilibrium theory and increasing returns : Presentation," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 103-118, April.
    7. Bonnisseau, Jean-Marc & Cornet, Bernard, 1990. "Existence of Marginal Cost Pricing Equilibria: The Nonsmooth Case," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(3), pages 685-708, August.
    8. Hamano, Tadashi, 1994. "On the existence of equilibria without convexity or free disposal on production technologies," Journal of Mathematical Economics, Elsevier, vol. 23(6), pages 565-583, November.
    9. Shafer, Wayne J, 1974. "The Nontransitive Consumer," Econometrica, Econometric Society, vol. 42(5), pages 913-919, September.
    10. Kamiya, Kazuya, 1988. "On the survival assumption in marginal (cost) pricing," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 261-273, April.
    11. Gerard Debreu, 1961. "New Concepts and Techniques for Equilibrium Analysis," Cowles Foundation Discussion Papers 129, Cowles Foundation for Research in Economics, Yale University.
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    More about this item

    Keywords

    Free disposal; increasing returns to scale; marginal pricing; non-convex production.;

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • D62 - Microeconomics - - Welfare Economics - - - Externalities

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