MARKET EQUILIBRIUM UNDER THE CIRCUMSTANCES OF SELECTABLE ECONOMIC CONDITIONS

Osamu Keyda ()
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Osamu Keyda: Kumamoto Gakuen University

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: This paper presents an analysis of market equilibrium under the circumstances withseveral discrete economic conditions by using pure exchange economy model. First,as preliminary analysis, it will show the ‘temporal’ market equilibrium under a givendistribution of population over the di erent circumstances in section 2. Next, in section3 our study will prove the existence of market equilibrium in the case that economicagents can choose their economic conditions freely for their utility maximization. Finallyour research tries to approximate our model to the residential location model throughthe specified assumptions on initial endowments and agent’s preference, and it derivessome properties of equilibrium consumptions and prices.

Keywords: equilibrium; local goods; excess utility (search for similar items in EconPapers)
JEL-codes: D51 R13 R20 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2006-02
New Economics Papers: this item is included in nep-mic, nep-upt and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:2006-02

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