search query: @indexterm ECONOMIC SYSTEMS / total: 532
reference: 148 / 532
| Author: | Bikhchandani, S. Mamer, J. W. |
| Title: | Competitive equilibrium in an exchange economy with indivisibilities |
| Journal: | Journal of Economic Theory
1997 : JUN, VOL. 74:2, p. 385-413 |
| Index terms: | COMPETITIVE EQUILIBRIUM ECONOMIC SYSTEMS SELLING |
| Language: | eng |
| Abstract: | This paper explores an exchange economy in which commodities except money are indivisible, agents' preference are described by a reservation value for each bundle of indivisible objects, and all agents are price-takers. A necessary and sufficient condition in which market clearing prices exist is obtained. The paper also discusses implications for market mechanisms. |
SCIMA