On the Uniqueness and Stability of the Equilibrium Price in Quasi-Linear Economies

Yuhki Hosoya

Papers from arXiv.org

Abstract: In this paper, we show that if every consumer in an economy has a quasi-linear utility function, then the normalized equilibrium price is unique, and is locally stable with respect to the t\^atonnement process. Our study can be seen as that extends the results in partial equilibrium theory to economies with more than two dimensional consumption space. Moreover, we discuss the surplus analysis in such economies.

Date: 2022-02, Revised 2024-04
New Economics Papers: this item is included in nep-ban and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://arxiv.org/pdf/2202.04573 Latest version (application/pdf)

Related works:
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: https://EconPapers.repec.org/RePEc:arx:papers:2202.04573

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().