A Model Distinguishing Production and Consumption Bundles

S. Schalk

Research output: Working paperDiscussion paperOther research output

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 convex cone. The main part in the modelling is the introduction of production technologies which can be thought of as replacing the notion of production sets in Arrow and Debreu’s model. It is a point of further investigationwhether the notion of production technology is also generating the notion of production set
Original languageEnglish
Place of PublicationTilburg
PublisherMicroeconomics
Number of pages19
Volume1998-84
Publication statusPublished - 1998

Publication series

NameCentER Discussion Paper
Volume1998-84

Keywords

  • mathematical models
  • production
  • consumption

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