Walrasian equilibrium as limit of competitive equilibrium without divisible
We study economies where all commodities are indivisible at the individual level, but perfectly divisible at the aggregate level. Under general hypotheses over the economy, the ain contribution of this paper is the prove that a rationing equilibrium converge to aWalrasian equilibrium of a limit economy when the level of indivisibility become small. If the non-satiation and the survival assumption are not satisfied at the limit economy, the rationing equilibrium converge to a hierarchic equilibrium.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Florig, Michael, 2001. "Hierarchic competitive equilibria," Journal of Mathematical Economics, Elsevier, vol. 35(4), pages 515-546, July.
- Kajii, Atsushi, 1996. "How to discard non-satiation and free-disposal with paper money," Journal of Mathematical Economics, Elsevier, vol. 25(1), pages 75-84.
- Michael Florig, 2003. "Arbitrary small indivisibilities," Economic Theory, Springer, vol. 22(4), pages 831-843, November.
- Alexander Konovalov, 2005. "The core of an economy with satiation," Economic Theory, Springer, vol. 25(3), pages 711-719, 04.
When requesting a correction, please mention this item's handle: RePEc:udc:wpaper:wp214. 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: (Tatiana Reyes)
If references are entirely missing, you can add them using this form.