Firms as clubs in Walrasian markets with private information : technical appendix

This paper proves the Welfare Theorems and the existence of a competitive equilibrium for the club economies with private information in Prescott and Townsend (2005). The proofs cover lottery economies with a finite number of goods and without free disposal. A mapping based on Negishi (1960) is used.

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Year of publication:	2005
Authors:	Prescott, Edward Simpson ; Townsend, Robert M.
Institutions:	Federal Reserve Bank of Richmond
Subject:	Welfare \| Competition

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Extent:	text/html application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 05-11
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004993887