Walrasian versus quasi-competitive equilibrium and the core of a production economy

James C. Moore ()
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James C. Moore: Purdue University

A chapter in Rationality and Equilibrium, 2006, pp 103-117 from Springer

Abstract: Summary This paper presents very general conditions guaranteeing that a quasicompetitive equilibrium is a Walrasian equilibrium. We also develop a generalization (and a simplified proof) of Nikaido’s and McKenzie’s extensions of the classic Debreu-Scarf theorem on core convergence, and apply the first result to obtain an equivalence between the set of Edgeworth equilibria and the set of Walrasian equilibria in a production economy.

Keywords: Core convergence; Indecomposability; Irreducibility; Quasi-competitive and Walrasian equilibrium (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:spr:steccp:978-3-540-29578-5_6

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DOI: 10.1007/3-540-29578-X_6

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