Small efficient scale as a foundation for Walrasian equilibrium

DOI10.1016/0022-0531(80)90042-3zbMath0433.90011OpenAlexW1968330178MaRDI QIDQ1139493

William Novshek

Publication date: 1980

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(80)90042-3

zbMATH Keywords

existence of equilibriumwelfare economicsperfect competitionWalrasian equilibriumconvexity hypothesesendogeneous market entryformal competitive theorylarge number of firmssmall efficient scale

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items (6)

Randomization and the limit points of monopolistic competition ⋮ Entry and growth in a perfectly competitive vintage model ⋮ On price taking behavior in a nonrenewable resource cartel-fringe game ⋮ Anonymous price taking equilibrium in Tiebout economies with a continuum of agents: existence and characterization ⋮ Walrasian equilibria as limits of noncooperative equilibria. I: Mixed strategies ⋮ Noncooperative exchange using money and broker-dealers

Cites Work

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• Cournot and Walras equilibrium
• On the Existence of General Equilibrium for a Competitive Market
• Equilibrium with Externalities, Commodity Taxation, and Lump Sum Transfers
• External Economies of Scale and Competitive Equilibrium
• Existence of an Equilibrium for a Competitive Economy

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