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Abstract

This paper studies the effect of free disposal on the existence of Walrasian equilibrium for exchange economies with indivisible objects. It is shown that allowing an agent to enjoy free disposal has the same effect for generating an equilibrium or eliminating existing equilibria as allowing every agent to enjoy free disposal. A new equilibrium existence theorem is given to show how this observation can enhance the existence results by Kelso and Crawford 1982 and Sun and Yang 2006.



Item Type: MPRA Paper -

Original Title: Free disposal, monotonicity and equilibrium-

Language: English-

Keywords: Indivisibility; equilibrium; free disposal; monotonic cover-

Subjects: D - Microeconomics > D5 - General Equilibrium and DisequilibriumD - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production Economies-





Autor: Yang, Yi-You

Fuente: https://mpra.ub.uni-muenchen.de/42586/







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