Existence of Equilibria with a Tight Marginal Pricing Rule

Jean-Marc BONNISSEAU () and Bernard Cornet

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper deals with the existence of marginal pricing equilibria when it is defined by using a new and tighter normal cone introduced by B. Cornet and M.O. Czarnecki. The main interest of this new definition of the marginal pricing rule comes from the fact that it is more precise in the sense that the set of pricessatisfying the condition is smaller than the one given by the Clarke's normal cone. The counterpart is that it is not convex valued, which leads to some mathematical difficulties in the existence proof. The result is obtained through an approximation argument under the same assumptions as in the previous existence results.

Keywords: General economic equilibrium; increasing returns; marginal pricing rule; existence. (search for similar items in EconPapers)
Date: 2006-01
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00113335/en/
View list of references View citations in EconPapers

Downloads: (external link)
http://halshs.archives-ouvertes.fr/docs/00/11/33/35/PDF/B06022.pdf (application/pdf)

Related works:
Journal Article: Existence of equilibria with a tight marginal pricing rule (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00113335_v1

Access Statistics for this paper

More papers in Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL
Series data maintained by CCSD ().