equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional … Walrasian equilibrium does not exist. -- General equilibrium theory ; endowment effect : non-existence of equilibrium …

equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional … Walrasian equilibrium does not exist …

trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

Socially responsible investment in analyzed in a general equilibrium context. This is important in order to understand …

The main contribution of this paper is to place smooth infinite economies in the setting of the equilibrium manifold … and the natural projection map à la Balasko. We show that smooth infinite economies have an equilibrium set that has the …

In this paper we extend models of "search market equilibrium" to incorporate general equilibrium considerations. The …. An equilibrium distribution of prices and wages is one which results from optimal price and wage setting behavior by … firms given individuals optimal search strategies. There are two possible equilibrium configurations, a degenerate …

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out … in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater … than previously postulated by many studies. -- Monopoly ; social welfare ; technical innovation ; general equilibrium …