Discrete Walrasian exchange process/ created by Jean-Marc Bonnisseau and Orntangar Nguenamadji

By:

Bonnisseau, Jean-Marc [author]

Contributor(s):

Nguenamadji, Orntangar [co author]

Material type: Text

TextSeries: Economic theory ; Volume 52, number 3Berlin: Springer, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

09382259

Subject(s):

LOC classification:

HB119 ECO

Online resources:

Click here to access online

Abstract: In an exchange economy, we define a discrete exchange process, which is Walrasian, since the trades are determined by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price then supports the Pareto optimal allocation. Furthermore, along the process, the allocation remains feasible and the utility of each consumer is non-decreasing.

Reviews from LibraryThing.com:

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB119 ECO (Browse shelf(Opens below))	vol. 52, no. 3 (pages 335-358)	SP21293	Not for loan	For In house Use
Journal Article	Main Library - Special Collections	HB119 ECO (Browse shelf(Opens below))	Vol. 52, no.3 (pages 335-358)	SP21041	Not for loan	For In house Use

In an exchange economy, we define a discrete exchange process, which is Walrasian, since the trades are determined by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price then supports the Pareto optimal allocation. Furthermore, along the process, the allocation remains feasible and the utility of each consumer is non-decreasing.

There are no comments on this title.

to post a comment.

here