Walrasian versus quasi-competitive equilibrium and the core of a production economy

DOI10.1007/S00199-003-0450-8MaRDI QIDQ2486956zbMATH OpenOpenAlexFDO

Authors James C. Moore

Publication date 17 August 2005

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-003-0450-8

zbMATH Keywords

Edgeworth equilibriumgeneral equilibriumindecomposabilityirreducibilityproduction economyquasi-competitive equilibriumWalras equilibriumWelfafare economy

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Special types of economic markets (including Cournot, Bertrand) (91B54)

Review text

The paper under review contributes to the understanding of general equilibrium and welfare economics by presenting new and general conditions under which the quasi-competitive and Walras equilibria are equivalent. The most general of these conditions is defined as indecomposability. It aloves to derive an extension of the classic Debreu-Scarf theorem on core convergence, and (in some specific situations of the production economy) also the equivalence between the sets of Edgeworth and Walrasian equilibria.

Recommendations

• The Walras core of an economy and its limit theorem
• Edgeworth equilibria, fuzzy core, and equilibria of a production economy without ordered preferences
• The Edgeworth's conjecture in finitely additive production economies
• Edgeworth equilibria in production economies
• scientific article; zbMATH DE number 19670

Cited in

(2)

• Cournot vs. Walras: a reappraisal through simulations
• The Walras core of an economy and its limit theorem

This page was built for publication: Walrasian versus quasi-competitive equilibrium and the core of a production economy

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2486956)