Market allocations under conflation of goods

Niccolò Urbinati () and Marco LiCalzi
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Niccolò Urbinati: Department of Economics and Statistics, University of Naples Federico II

No 2022:05, Working Papers from Department of Economics, University of Venice "Ca' Foscari"

Abstract: We study competitive equilibria in exchange economies when a continuum of goods is conflated into a finite set of commodities. The design of conflation affects the allocation of scarce resources among agents, by constraining trading opportunities and shifting competitive pressures. We also consider sufficient conditions for a decentralized equilibrium to be achieved merely by an appropriate conflation, absent prices.

Keywords: tradable commodities; classification of goods; general economic equilibrium; Fisher market model (search for similar items in EconPapers)
JEL-codes: D02 D51 D62 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2022, Revised 2024
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Related works:
Working Paper: Market allocations under conflation of goods (2024)
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