Proof of the Existence Theorem of a Model Distinguishing Production and Consumption Bundles

S. Schalk

Research output: Working paperDiscussion paperOther research output

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
Original languageEnglish
Place of PublicationTilburg
PublisherMicroeconomics
Number of pages14
Volume1999-22
Publication statusPublished - 1999

Publication series

NameCentER Discussion Paper
Volume1999-22

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