Existence of equilibria with a tight marginal pricing rule

Jean-Marc Bonnisseau and Bernard Cornet

PSE-Ecole d'économie de Paris (Postprint) 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 prices satisfying 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: 2008-07
References: Add references at CitEc
Citations:

Published in Journal of Mathematical Economics, 2008, 44 (7-8, Special Issue in Economic Theory in honor of Charalambos D. Aliprantis), pp.613-624. ⟨10.1016/j.jmateco.2007.03.001⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Existence of Equilibria with a Tight Marginal Pricing Rule (2009)
Journal Article: Existence of equilibria with a tight marginal pricing rule (2008)
Working Paper: Existence of equilibria with a tight marginal pricing rule (2008)
Working Paper: Existence of equilibria with a tight marginal pricing rule (2008)
Working Paper: Existence of Equilibria with a Tight Marginal Pricing Rule (2006)
Working Paper: Existence of Equilibria with a Tight Marginal Pricing Rule (2006)
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:hal:pseptp:hal-00187216

DOI: 10.1016/j.jmateco.2007.03.001

Access Statistics for this paper

More papers in PSE-Ecole d'économie de Paris (Postprint) from HAL
Bibliographic data for series maintained by Caroline Bauer ().