On a general existence theorem for marginal cost pricing equilibria
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If in the Arrow-Debreu model of competitive equilibrium non-convexities of production technologies are permitted, an appropriate generalization of the equilibrium concept is one which postulates marginal cost pricing by firms. This paper contains a generalization of the earlier results on the existence of these marginal cost pricing equilibria. In particular, the paper utilizes the tangent and normal cones at points of production sets in the description of the marginal cost pricing rule in contrast to other less general concepts in earlier work. In addition to the existence theorem the paper provides a new sufficient condition for productive efficiency of marginal cost pricing equilibria.
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Cites work
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- The Existence of "Compensated Equilibrium" and the Structure of the Pareto Efficiency Frontier
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Cited in
(42)- On marginal cost pricing with given tax-subsidy rules
- On a general existence theorem for marginal cost pricing equilibria
- General equilibrium theory and increasing returns
- On the survival assumption in marginal (cost) pricing
- Existence of equilibria when firms follow bounded losses pricing rules
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- Competitive equilibria with quantity-taking producers and increasing returns to scale
- Topological properties of the attainable set in a nonconvex production economy
- Valuation equilibrium and Pareto optimum in non-convex economies
- Existence and uniqueness of equilibria with increasing returns
- On the non-existence of a marginal cost pricing equilibrium and the Ioffe normal cone
- Existence of equilibria in the presence of increasing returns
- Two-part marginal cost pricing equilibria: Existence and efficiency
- Cost minimization and regulation in general equilibrium: an example
- A sufficiency result for constrained economies
- Existence of marginal pricing equilibria in economies with externalities and non-convexities
- On the existence of equilibria without convexity or free disposal on production technologies
- Two-part marginal cost pricing in a pure fixed cost economy
- The marginal pricing rule in economies with infinitely many commodities
- The Dubovickij-Miljutin lemma and characterizations of optimal allocations in non-smooth economies
- Optimal public utility pricing: A general equilibrium analysis
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- Computation of equilibria in an economy with increasing returns to scale technologies
- The marginal pricing rule revisited
- Implementation in production economies with increasing returns
- Existence of Marginal Cost Pricing Equilibria in Economies with Several Nonconvex Firms
- Existence of Marginal Cost Pricing Equilibria: The Nonsmooth Case
- scientific article; zbMATH DE number 3918041 (Why is no real title available?)
- General Equilibrium when Some Firms Follow Special Pricing Rules
- Marginal Cost Pricing Under Bounded Marginal Returns
- Two-Part Marginal Cost Pricing Equilibria with n Firms: Sufficient Conditions for Existence and Optimality
- Cost Minimization of Nonconvex Firms under Prices in Normal Cones
- Marginal pricing and marginal cost pricing equilibria in economies with externalities and infinitely many commodities
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- Marginals with Finite Repulsive Cost
- Characterizations of the free disposal condition for nonconvex economies on infinite dimensional commodity spaces
- Nonconvex equilibrium models for energy markets: exploiting price information to determine the existence of an equilibrium
- Existence of Drèze equilibrium under set-up costs
- General equilibrium and social choice in economies with increasing returns
- An adjustment process for nonconvex production economies
- Existence of equilibria with a tight marginal pricing rule
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