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Existence of Equilibrium in Discrete Market Games


  • Somdeb Lahiri

    (Institute for Financial Management & Research)


In this paper we show that a feasible price allocation pair is a market equilibrium of a discrete market game if and only if it solves a linear programming problem. We use this result to obtain computable necessary and sufficient conditions for the existence of market equilibrium. We assume that the production functions of the profit maximizing agents are discrete concave.

Suggested Citation

  • Somdeb Lahiri, 2005. "Existence of Equilibrium in Discrete Market Games," Game Theory and Information 0512005, EconWPA.
  • Handle: RePEc:wpa:wuwpga:0512005
    Note: Type of Document - pdf

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    References listed on IDEAS

    1. Zaifu YANG & Ning SUN, 2004. "The Max-Convolution Approach to Equilibrium Models with Indivisibilities," Econometric Society 2004 Far Eastern Meetings 564, Econometric Society.
    2. Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
    3. Somdeb Lahiri, 2005. "Manipulation via Endowments in a Market with Profit Maximizing Agents," Game Theory and Information 0511008, EconWPA.
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    More about this item


    discrete concave; existence; market equilibrium; linear programming;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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