Discrete Walrasian exchange process

Jean-Marc Bonnisseau and Orntangar Nguenamadji ()
Additional contact information
Orntangar Nguenamadji: Centre d'Economie de la Sorbonne - Paris School of Economics, https://centredeconomiesorbonne.cnrs.fr

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: In an exchange economy, we provide a discrete exchange process, which is Walrasian since the trades are given by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price then supports the Pareto optimal allocation. Furthermore, along the process, the allocation is feasible and the utility of each consumer is non-decreasing

Keywords: Exchange process; Walrasian equilibrium; local equilibrium; Pareto optimum (search for similar items in EconPapers)
JEL-codes: C62 D50 D62 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2009-12
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
ftp://mse.univ-paris1.fr/pub/mse/CES2009/09085.pdf (application/pdf)

Related works:
Journal Article: Discrete Walrasian exchange process (2013)
Working Paper: Discrete Walrasian Exchange Process (2013)
Working Paper: Discrete Walrasian Exchange Process (2013)
Working Paper: Discrete Walrasian Exchange Process (2013)
Working Paper: Discrete Walrasian Exchange Process (2009)
Working Paper: Discrete Walrasian Exchange Process (2009)
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:mse:cesdoc:09085

Access Statistics for this paper

More papers in Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne Contact information at EDIRC.
Bibliographic data for series maintained by Lucie Label ().