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existence of an equilibrium under assumptions, which are at the same level of generality than the ones for the existence in an …
Persistent link: https://www.econbiz.de/10009645283
to study the mechanism of transfer between generations, and we show that the existence of an equilibrium can be …
Persistent link: https://www.econbiz.de/10010791256
We consider a pure exchange overlapping generations economy with finitely many commodities and consumers per period having possibly non-complete non transitive preferences. We provide a geometric and direct proof of the Balasko-Shell characterization of Pareto optimal allocation. To avoid some...
Persistent link: https://www.econbiz.de/10011194459
We consider a general equilibrium model of a private ownership economy with consumption and production externalities …
Persistent link: https://www.econbiz.de/10011268204
We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called possibility function. Utility and possibility functions depend on the consumptions of all households....
Persistent link: https://www.econbiz.de/10005041114
constraints. So the equilibrium consumptions are close to the initial endowments. We prove that the local equilibrium is always … converge to the equilibrium of the linear tangent economy when the sale constraints converge to zero. …
Persistent link: https://www.econbiz.de/10004988954
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 …
Persistent link: https://www.econbiz.de/10008622038
Union Emission Trading Scheme, on the general equilibrium of an economy. Assuming there existed an equilibrium before the … opening of this new market, we describe the changes in the firms behavior which guarantee that an equilibrium can be reached … in the enlarged economy. The existence of an equilibrium in this framework can then be interpreted as ensuring the …
Persistent link: https://www.econbiz.de/10005510601
a general equilibrium in such a setting. …
Persistent link: https://www.econbiz.de/10005510613
Persistent link: https://www.econbiz.de/10012667148