The no-surplus condition as a characterization of perfectly competitive equilibrium

DOI10.1016/0022-0531(80)90039-3zbMath0437.90022OpenAlexW1517386238MaRDI QIDQ1141574

Joseph M. Ostroy

Publication date: 1980

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.econ.ucla.edu/workingpapers/wp090.pdf

zbMATH Keywords

competitive equilibriumWalrasian equilibriuminvariance to number of agentsno-surplus allocationno-surplus conditionperfectly competitive equilibrium

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items (14)

Constrained efficiency versus unanimity in incomplete markets ⋮ The nonatomic assignment model ⋮ Vickrey-Clarke-Groves mechanisms and perfect competition ⋮ Market design and the stability of general equilibrium ⋮ Equilibrium with mutual organizations in adverse selection economies ⋮ Competitive pricing and the core: with reference to matching ⋮ A characterization of perfectly competititve economies with production ⋮ Perfect competition, the profit criterion, and the organization of economic activity ⋮ Two-sided micro-matching with technical progress ⋮ Differentiability as convergence to perfectly competitive equilibrium ⋮ Option fund market dynamics for threshold public goods ⋮ Nonlinear incentive provision in Walrasian markets: a Cournot convergence approach ⋮ Efficient spatial competition ⋮ Gradients, subgradients, and economic equilibria

Cites Work

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• Edgeworth-Allocations in an Exchange Economy with Many Traders
• Markets with a Continuum of Traders
• An Equivalence Theorem for the Core of an Economy Whose Atoms Are Not "Too" Big
• A Limit Theorem on the Core of an Economy

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