Competitive Equilibrium in an Exchange Economy with Indivisibilities
Competitive Equilibrium in an Exchange Economy with Indivisibilities
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DOI：
10.1006/jeth.1996.2269
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发表时间：
1997-06
影响因子：
1.6
通讯作者：
S. Bikhchandani;J. Mamer
中科院分区：
文献类型：
--
作者：
S. Bikhchandani;J. Mamer
我们分析了这样一个交换经济：(I)除货币以外的所有商品都是不可分割的，(Ii)代理人的偏好可以用每一捆不可分割物品的保留值来描述，以及(Iii)所有代理人都是价格接受者。得到了市场出清价格存在的充要条件。经济文献期刊分类编号：D51，C78。
Abstract We analyze an exchange economy in which (i) all commodities except money are indivisible, (ii) agents' preferences can be described by a reservation value for each bundle of indivisible objects, and (iii) all agents are price-takers. We obtain a necessary and sufficient condition under which market clearing prices exist. Implications for market mechanisms are discussed.Journal of Economic LiteratureClassification Numbers: D51, C78.