Herings, Peter Jean-Jacques - 2015
(1986) as special cases. The paper presents a notion of competitive equilibrium, called Drèze equilibrium, for this class of … models, an extension of the concept as developed by Drèze (1975) for economies with divisible commodities subject to price … controls. It is shown that Drèze equilibrium allocations are equivalent to allocations induced by stable outcomes. One …