Showing 1 - 2 of 2
An exchange economy with fixed prices is considered. In this setting a Walrasian equilibrium generically does not exist. In a so-called Dreze equilibrium rationing on excess demand and on excess supply of the non-numeraire commodities is present. In this paper a new type of adjustment process is...
Persistent link: https://www.econbiz.de/10011091903
Persistent link: https://www.econbiz.de/10011092102