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Direct Exchange In Linear Economies

Author

Listed:
  • SJUR DIDRIK FLÅM

    (Economics Department, University of Bergen, Norway)

  • KJETIL GRAMSTAD

    (Economics Department, University of Bergen, Norway)

Abstract

Considered here is direct exchange of production allowances or input factors. Motivated by practical modeling and compution, we suppose every owner or user of such items has a linear technology. The issue is whether competitive market equilibrium can be reached merely via iterated bilateral barters. This paper provides positive and constructive answers.

Suggested Citation

  • Sjur Didrik Flåm & Kjetil Gramstad, 2012. "Direct Exchange In Linear Economies," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 14(04), pages 1-18.
    • Handle: RePEc:wsi:igtrxx:v:14:y:2012:i:04:n:s0219198912400063
    DOI: 10.1142/S0219198912400063
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    References listed on IDEAS

    as
    1. Leigh Tesfatsion & Kenneth L. Judd (ed.), 2006. "Handbook of Computational Economics," Handbook of Computational Economics, Elsevier, edition 1, volume 2, number 2.
    2. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, April.
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    Citations

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    Cited by:

    1. Sjur Didrik Flåm, 2020. "Rights and rents in local commons," The Journal of Mechanism and Institution Design, Society for the Promotion of Mechanism and Institution Design, University of York, vol. 5(1), pages 119-140, December.
    2. Sjur Didrik Flåm, 2016. "Noncooperative games, coupling constraints, and partial efficiency," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(2), pages 213-229, October.
    3. Sjur Didrik Flåm, 2019. "Blocks of coordinates, stochastic programming, and markets," Computational Management Science, Springer, vol. 16(1), pages 3-16, February.
    4. Flåm, Sjur Didrik, 2016. "Borch’s theorem, equal margins, and efficient allocation," Insurance: Mathematics and Economics, Elsevier, vol. 70(C), pages 162-168.

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    More about this item

    Keywords

    Resource markets; transferable utility; competitive equilibrium; core imputations; linear programming; bilateral barters; convergence; C63; C71; D03; D21; 90; 91;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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