Bergstrom, Ted C; Shimomura, Ken-Ichi; Yamato, Takehiko - Department of Economics, University of California-Santa … - 2008
This paper studies a general class of pure exchange economies that have multiple equilibria, which extend an example presented by Lloyd Shapley and Martin Shubik. For such economies, we find easily verified conditions that determine whether there are multiple equilibria. We also provide simple...