Edgeworth equilibria in production economies (Q1099056)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Edgeworth equilibria in production economies |
scientific article |
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Edgeworth equilibria in production economies (English)
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1987
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An Edgeworth equilibrium is an allocation that belongs to the core of every n-fold replica of the economy. In this work we study the properties of Edgeworth equilibria for economies with production and infinite- dimensional commodity spaces. Under some relatively mild conditions we establish (among other things) that (1) Edgeworth equilibria exist, (2) every Edgeworth equilibrium is a quasi-equilibrium, and (3) An allocation is an Edgeworth equilibrium if and only if it can be ``decentralized'' by a price system.
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Edgeworth equilibrium
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core
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economies with production
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infinite- dimensional commodity spaces
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quasi-equilibrium
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