An equilibrium existence result for an economy with land
type: Item
instance of: scholarly article
title: An equilibrium existence result for an economy with land
zbMATH Open document ID: 0573.90016
DOI: 10.1016/0304-4068(85)90026-6
author: Marcus Berliant
published in: Journal of Mathematical Economics
publication date: 1985-01-01T00:00:00Z
review text: This research uses a different set of assumptions for land than those used in the standard general equilibrium framework. In particular, land is modelled explicitly as a subset of the plane with anything immobile, from flowers and trees to houses, embedded in it. There is a finite number of consumers with preference orderings over land parcels satisfying certain axioms along with endowments of land that partition this subset of the plane. Allowing for recombinations of parcels, the main result demonstrates the existence of prices in \(L^ 1\) and a partition of land among consumers so that the land market clears.
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 3915968
zbMATH Keywords: equilibrium existence result
zbMATH Keywords: economy with land
zbMATH Keywords: land market
MaRDI profile type: Publication
full work available at URL: 0304-4068(85)90026-6
OpenAlex ID: W2083192598
cites work: A Limit Theorem on the Core of an Economy
cites work: A Competitive Model of Commodity Differentiation
cites work: Q5667036
description: scientific article; zbMATH DE number 3915968