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Can we identify Walrasian allocations?
Manresa, Antonio, 1954-
Universitat de Barcelona
[eng] We consider a discrete time, pure exchange infinite horizon economy with two or more consumers and at least one concumption good per period. Within the framework of decentralized mechanisms, we show that for a given consumption trade at any period of time, say at time one, the consumers will need, in general, an infinite dimensional (informational) space to identigy such a trade as an intemporal Walrasian one. However, we show and characterize a set of enviroments where the Walrasian trades at each period of time can be achieved as the equilibrium trades of a sequence of decentralized competitive mechanisms, using only both current prices and quantities to coordinate decisions.
Equilibri (Economia)
Economia matemàtica
Equilibrium (Economics)
Mathematical economics
cc-by-nc-nd, (c) Manresa, 1998
Documento de trabajo
Universitat de Barcelona. Facultat d'Economia i Empresa

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