Walrasian Equilibria in a Production Economy with Indivisibilities
This paper studies a production economy with indivisibilities. We provide a characterization for all Walraian equilibria and a necessary and sufficient condition for the existence of Walrasian equilibrium. We find a sufficient condition for every descening (ascending) price process to converge to a Walrasian equilibrium within finite periods of time.
|Date of creation:||17 Sep 1997|
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