EQUILIBRIUM IN A DISCRETE EXCHANGE ECONOMY WITH REGIONAL SUB-ECONOMIES

Juan C. Cesco and Ezio Marchi
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Juan C. Cesco: Instituto de Matemática Aplicada San Luis (U.N. de San Luis-CONICET), Argentina
Ezio Marchi: Instituto de Matemática Aplicada San Luis (U.N. de San Luis-CONICET), Argentina

International Game Theory Review (IGTR), 2001, vol. 03, issue 01, 57-65

Abstract: In the first part of this note, we present a generalisation of a lemma due to Gale (1984) to a product of simplices. Then, we use it to derive a permutation-based extension of Browder Fixed Point Theorem proved by Bapat (1989). In the last part, we propose a model of an economy with regional sub-economies in the line of Gale's work (1984) and prove existence equilibrium results under different set of hypothesis.

JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1142/S0219198901000270

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