On the irreducibility of a competitive economy

Michael Florig

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: In the case of a private ownership economy, we unify McKenzie-Debreu's and Arrow-Hahn's concepts of irreducibility by a generalization of Bergstrom irreducibility to economies with production. This, together with existence of a quasi-equilibrium, will be shown to imply existence of a Walras equilibrium.

Date: 1997-02
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Persistent link: https://EconPapers.repec.org/RePEc:cte:werepe:6021

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