Non-existence of equilibria with free elimination

Hans Salchow ()

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: This work is concerned in the existence problem of equilibria for economies with increasing returns to scale. The consequences of relaxing the free disposal assumption are investigated. It is sown that the free disposal assumption can not be dropped, not even relaxed to the assumption of free elimination, without risking that equilibria may fail to exist. This may give new insight to the work of Giraud (2000) and Jouini (1992), because they proved the existence of equilibria for economies without free disposal assuming the production sets to verify (even weaker forms of) free elimination

Keywords: Free disposal; increasing returns to scale; marginal pricing; non-convex production (search for similar items in EconPapers)
JEL-codes: C50 D62 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2005-03
New Economics Papers: this item is included in nep-mic
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Related works:
Working Paper: Non-existence of equilibria with free elimination (2005)
Working Paper: Non-existence of equilibria with free elimination (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:wpsorb:b05057

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