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Title: | Can we identify Walrasian allocations? |
Author: | Manresa, Antonio, 1954- |
Keywords: | Econometria Equilibri (Economia) Microeconomia Macroeconomia Economia matemàtica Econometrics Equilibrium (Economics) Microeconomics Macroeconomics Mathematical economics |
Issue Date: | 1998 |
Publisher: | Universitat de Barcelona. Facultat d'Economia i Empresa |
Series/Report no: | [WP E-Eco 98/032] |
Abstract: | [eng] We consider a discrete time, pure exchange infinite horizon economy with two or more consumers and at least one concumption good per period. Within the framework of decentralized mechanisms, we show that for a given consumption trade at any period of time, say at time one, the consumers will need, in general, an infinite dimensional (informational) space to identigy such a trade as an intemporal Walrasian one. However, we show and characterize a set of enviroments where the Walrasian trades at each period of time can be achieved as the equilibrium trades of a sequence of decentralized competitive mechanisms, using only both current prices and quantities to coordinate decisions. |
Note: | Reproducció del document publicat a: http://www.ere.ub.es/dtreball/E9832.rdf/view |
It is part of: | Documents de treball (Facultat d'Economia i Empresa. Espai de Recerca en Economia), 1998, E98/032 |
URI: | http://hdl.handle.net/2445/43811 |
ISSN: | 1136-8365 |
Appears in Collections: | UB Economics – Working Papers [ERE] Documents de treball / Informes (Economia) |
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File | Description | Size | Format | |
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E98-32_Manresa.pdf | 150.01 kB | Adobe PDF | View/Open |
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