General equilibrium with imperfect discriminating power (Q690335)
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scientific article; zbMATH DE number 458838
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | General equilibrium with imperfect discriminating power |
scientific article; zbMATH DE number 458838 |
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General equilibrium with imperfect discriminating power (English)
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20 April 1995
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\textit{D. T. Jamison} and \textit{L. J. Lau} [Econometrica 45, 1595-1605 (1977; Zbl 0369.90011)] analyzed the consequences of introducing the assumption that consumer preferences in an exchange economy are a semiorder instead of the more common preorder. The present paper goes further to establish the full dimensionality of the set of equilibrium allocations and the set of equilibrium prices in such situations.
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consumer preferences
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exchange economy
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semiorder
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