Competitive equilibria with quantity-taking producers and increasing returns to scale
This paper proposes a concept of competitive equilibrium at which producers are quantity-takers. The equilibrium is called `competitive' because it combines voluntary trading with a condition of minimality on output prices. When production sets are convex, the set of equilibria as defined here coincides with the set of standard competitive equilibria. Existence is proved without imposing a convexity assumption on either individual or aggregate production sets.
scientific article; zbMATH DE number 4074763
scientific article