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Proof of the Existence Theorem of a Model Distinguishing Production and Consumption Bundles
Schalk,S.
Schalk,S.
Abstract
In [9], a model of a private ownership economy is presented in which production and consumption bundles are treated separately. Each of the two types of bundles is assumed to establish a convex cone. The main part in the modelling is the intro- duction of production technologies which can be thought of as replacing the notion of production sets in Arrow and Debreu's model. In this paper, it is proved that under mild economically interpretable conditions, presented in [9], a Walrasian equilibrium exists
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Pagination: 14
Date
1999
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Microeconomics
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Schalk, S 1999 'Proof of the Existence Theorem of a Model Distinguishing Production and Consumption Bundles' CentER Discussion Paper, vol. 1999-22, Microeconomics, Tilburg.