Existence of Equilibrium in Discrete Market Games
Somdeb Lahiri ()
Game Theory and Information from University Library of Munich, Germany
In this paper we show that a feasible price allocation pair is a market equilibrium of a discrete market game if and only if it solves a linear programming problem. We use this result to obtain computable necessary and sufficient conditions for the existence of market equilibrium. We assume that the production functions of the profit maximizing agents are discrete concave.
Keywords: discrete concave; existence; market equilibrium; linear programming (search for similar items in EconPapers)
JEL-codes: C7 D8 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gth and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpga:0512005
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