Computational Aspects of Linear Exchange Economies.

The set of equilibrium prices in linear exchange economies is by Mertens (1996) a convex polyhedral cone (after adding {0}). We give a constructive proof of this fact. From this, we derive a lower semi-continuity property of the equilibrium price correspondence. The set of equilibrium allocations is a closed, convex polyhedron (Bonnisseau, Florig and Jofré 1997b). We give a characterization of this set which allows to compute it.

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Year of publication:	2000
Authors:	Florig, M.
Institutions:	Centre de recherche de mathématiques et économie mathématique (CERMSEM), Centre d'Économie de la Sorbonne
Subject:	PRICES \| ECONOMIC EQUILIBRIUM \| UTILITY FUNCTIONS

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Series:	Papiers d'Economie Mathématique et Applications.
Type of publication:	Book / Working Paper
Notes:	13 pages
Classification:	D50 - General Equilibrium and Disequilibrium. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005035770