We consider an economy with incomplete markets and a single firm and assume that utility can be freely transferred in the form of the initially available good 0 (quasilinearity). In this particularly simple and transparent framework, the objective of a firm can be defined as the maximization of...

We consider economies with incomplete markets, one good per state, two periods, t=0,1, private ownership of initial endowments, a single firm, and no assets other than shares in this firm. In Dierker, Dierker, Grodal (2002), we give an example of such an economy in which all market equilibria...

Consider an economy with one public enterprise that is subject to a budgetary constraint and charges prices according to the first-order necessary conditions suggested by M. Boiteux (1956) or F. P. Ramsey (1927). The authors state conditions sufficient to ensure that the resulting allocation is...

The theory of regular economies is useful for the studies of the local uniqueness of equilibria, continuity of the equilibrium price correspondence, and possibility of comparative statics. The theory of regular economies also helps give a better understanding of the core correspondence, because...