Existence and welfare properties of equilibrium in an exchange economy with multiple divisible and indivisible commodities and linear production technologies
G van der Laan, D Talman, Z Yang - Journal of Economic Theory, 2002 - Elsevier
In this paper we consider a class of economies with a finite number of divisible commodities,
linear production technologies, and indivisible goods and a finite number of agents. This
class contains several well-known economies with indivisible goods and money as special
cases. It is shown that if the utility functions are continuous on the divisible commodities and
are weakly monotonic both on one of the divisible commodities and on all the indivisible
commodities, if each agent initially owns a sufficient amount of one of the divisible …
linear production technologies, and indivisible goods and a finite number of agents. This
class contains several well-known economies with indivisible goods and money as special
cases. It is shown that if the utility functions are continuous on the divisible commodities and
are weakly monotonic both on one of the divisible commodities and on all the indivisible
commodities, if each agent initially owns a sufficient amount of one of the divisible …
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