Titlebook: Equilibrium and Efficiency in Production Economies; Antonio Villar Book 2000Latest edition Springer-Verlag Berlin Heidelberg 2000 Allgemei

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Book 2000Latest editions a Lecture Notes volume in 1996. It incorporates new topics and the most recent developments in the field. It also provides a more systematic analysis of the differences between production economies with and without convex production sets. Five out of twelve chapters are new, and most of the remain

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https://doi.org/10.1007/978-981-19-3501-5icture: consumers demand commodities and supply labour services, firms produce commodities according to their technological knowledge, and commodities flow among agents by means of an exchange process which is realized through markets and prices.

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Norbert Exler,Iris Wagner,Georg A. Janauertion and consumption sets. We deal with this point here, analyzing in detail conditions under which the aggregate consumption and production sets are closed, and the set of feasible allocations is compact.

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Equilibrium with Non-Convex Firms,general equilibrium model allowing for non-convex technologies, ., and suitably .. This will imply, however, that the . (the Invisible Hand Theorem now splits into two halves). Thus, the existence of equilibria under nonconvex technologies, and the analysis of their properties of optimality now become two very different questions.

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Marginal Pricing,t maximization amounts to selecting those prices that support efficient production plans. These supporting vectors are “marginal prices”, because they correspond to the marginal rates of transformation.