In a standard general equilibrium model it is assumed that there are no price restictionsand that prices adjust … infinitely fast to their equilibrium values. In this paper the set ofadmissible prices is allowed to be an arbitrary convex set … condition that aprice will be on its upper or lower bound in case of rationing. Therefore we introduce a moregeneral equilibrium …

Stochastic rationing when the market does not clear draws attention because both Dreze (1975) and Benassy (1975 …. His stochastic rationing depends on all the individual effective demands. It is too vague to characterize a rationing … (1978) to characterizing the rationing scheme as the individual effective demand times the rationing number which is a …

Stochastic rationing when the market does not clear draws attention because both Dreze (1975) and Benassy (1975 …. His stochastic rationing depends on all the individual effective demands. It is too vague to characterize a rationing … (1978) to characterizing the rationing scheme as the individual effective demand times the rationing number which is a …