EconPapers    
Economics at your fingertips  
 

Core Equivalence Theorem with Production

Siyang Xiong () and Charles Zheng

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: In production economies, the extent to which non-equilibria are blocked depends on the allocation of control rights among shareholders, because a blocking coalition's resources are affected by the firms it jointly owns with outsiders. We formulate a notion of blocking that takes such interdependency problem into account, and we prove an analog of the Debreu-Scarf theorem for replica production economies. Our theorem differs from theirs in using an additional assumption, which we argue is indispensable and is driven by the interdependency problem.

Date: 2007-11-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Published in Journal of Economic Theory, November 2007, vol. 137 no. 1, pp. 246-270

Downloads: (external link)
http://www2.econ.iastate.edu/papers/paper_12697_06037.pdf (application/pdf)

Related works:
Journal Article: Core equivalence theorem with production (2007) Downloads
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:isu:genres:12697

Access Statistics for this paper

More papers in Staff General Research Papers Archive from Iowa State University, Department of Economics Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070. Contact information at EDIRC.
Bibliographic data for series maintained by Curtis Balmer ().

 
Page updated 2020-09-19
Handle: RePEc:isu:genres:12697