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Restriction of Preferences to the Set of Consumption Bundles, In a Model with Production and Consumption Bundles

Schalk,S.
Abstract
In contrast to the neo-classical theory of Arrow and Debreu, 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 con- vex cone. Production technologies can convert production bundles into consumption bundles, and the preferences of the consumers are assumed to lie only on the set of consumption bundles. The main theorem of this paper states the existence of a Walrasian equilibrium in this setting.
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Pagination: 37
Date
1999
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Publisher
Microeconomics
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Tilburg University Research Output Collection
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89.pdf
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Keywords
general equilibrium, input-output, salient space, C62 - Existence and Stability Conditions of Equilibrium, C67 - Input–Output Models, D51 - Exchange and Production Economies, D57 - Input–Output Tables and Analysis
Citation
Schalk, S 1999 'Restriction of Preferences to the Set of Consumption Bundles, In a Model with Production and Consumption Bundles' CentER Discussion Paper, vol. 1999-89, Microeconomics, Tilburg.
URI
https://hdl.handle.net/20.500.14602/26593
License
info:eu-repo/semantics/restrictedAccess
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