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.

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Year of publication:	1997
Authors:	Ma, Jinpeng
Publisher:	New Brunswick, NJ : Rutgers University, Department of Economics
Subject:	Walrasian Equilibrium

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Series:	Working Paper ; 1997-12
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	875988520 [GVK] hdl:10419/94326 [Handle] RePEc:rut:rutres:199712 [RePEc]
Classification:	D41 - Perfect Competition
Source:	EconStor

Persistent link: https://www.econbiz.de/10010334352