Existence of Marginal Cost Pricing Equilibria: The Nonsmooth Case.
In this article, the authors report a general existence theorem of a marginal (cost) pricing equilibrium for an economy that may exhibit increasing returns to scale or more general types of nonconvexities in the production sector. Their model considers an arbitrary number of firms and no smoothness assumption is made on the production sets or on the aggregate production set. Copyright 1990 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
Year of publication: |
1990
|
---|---|
Authors: | Bonnisseau, Jean-Marc ; Cornet, Bernard |
Published in: |
International Economic Review. - Department of Economics. - Vol. 31.1990, 3, p. 685-708
|
Publisher: |
Department of Economics |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Valuation equilibrium and Pareto optimum in non-convex economies
BONNISSEAU, Jean-Marc,
-
Fixed-point theorems and Morse's lemma for Lipschitzian functions
BONNISSEAU, Jean-Marc,
-
Existence of equilibria when firms follow bounded losses pricing rules
BONNISSEAU, Jean-Marc,
- More ...