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Walrasian versus quasi-competitive equilibrium and the core of a production economy

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  • James Moore

Abstract

This paper presents very general conditions guaranteeing that a quasi-competitive equilibrium is a Walrasian equilibrium. We also develop a generalization (and a simplified proof) of Nikaido’s and McKenzie’s extensions of the classic Debreu-Scarf theorem on core convergence, and apply the first result to obtain an equivalence between the set of Edgeworth equilibria and the set of Walrasian equilibria in a production economy. Copyright Springer-Verlag Berlin/Heidelberg 2005

Suggested Citation

  • James Moore, 2005. "Walrasian versus quasi-competitive equilibrium and the core of a production economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(2), pages 345-359, August.
    • Handle: RePEc:spr:joecth:v:26:y:2005:i:2:p:345-359
    DOI: 10.1007/s00199-003-0450-8
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    Cited by:

    1. Antonio D’Agata, 2018. "Freeing long‐period prices from the uniform profit rate hypothesis: A general model of long‐period positions," Metroeconomica, Wiley Blackwell, vol. 69(4), pages 847-861, November.
    2. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, September.
    3. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.

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