EconPapers    
Economics at your fingertips  
 

Free disposal, monotonicity and equilibrium

Yi-You Yang

MPRA Paper from University Library of Munich, Germany

Abstract: This paper studies the effect of free disposal on the existence of Walrasian equilibrium for exchange economies with indivisible objects. It is shown that allowing an agent to enjoy free disposal has the same effect for generating an equilibrium (or eliminating existing equilibria) as allowing every agent to enjoy free disposal. A new equilibrium existence theorem is given to show how this observation can enhance the existence results by Kelso and Crawford (1982) and Sun and Yang (2006).

Keywords: Indivisibility; equilibrium; free disposal; monotonic cover (search for similar items in EconPapers)
JEL-codes: D5 D51 (search for similar items in EconPapers)
Date: 2012-11-13
New Economics Papers: this item is included in nep-gth and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/42585/1/MPRA_paper_42585.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/42586/1/MPRA_paper_42586.pdf revised 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:pra:mprapa:42585

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2025-03-19
Handle: RePEc:pra:mprapa:42585