Equilibria with Increasing Returns: Sufficient Conditions on Bounded Allocations
Journal article: This paper deals with the existence of marginal pricing equilibrium or equilibrium with general pricing rules in an economy with increasing returns to scale or more general types of non convexities in production. Its main contribution is to demonstrate existence of equilibrium with bounded loss and survival assumptions required only on a bounded subset of production allocations. Furthermore, we require only a weakened form of the free-disposal assumption and we also allow non positive prices.
Author(s)
Jean-Marc Bonnisseau, Alexandrine Jamin
Journal
- Journal of Public Economic Theory
Date of publication
- 2008
Keywords
- General economic equilibrium
- Increasing returns
- General pricing rules
- Bounded losses
- Marginal pricing rule
- Free disposal
Pages
- 1033-1068
URL of the HAL notice
Version
- 1
Volume
- 10