Distributive production sets and equilibria with increasing returns
type: Item
instance of: scholarly article
title: Distributive production sets and equilibria with increasing returns
zbMATH Open document ID: 0677.90007
DOI: 10.1016/0304-4068(88)90008-0
author: Pierre Dehez
author: Jacques H. Drèze
published in: Journal of Mathematical Economics
publication date: 1988-01-01T00:00:00Z
full work available at URL: http://hdl.handle.net/1814/22915
review text: A production plan and a price system satisfy voluntary trading if, at these prices, it is not more profitable to produce less of some of the outputs. This concept is defined and used in a general equilibrium framework in a companion paper of the authors [ibid. 17, No.2/3, 209-230 (1988; Zbl 0657.90018)]. The present paper gives a necessary and sufficient condition on multiproduct production sets under which average cost pricing is compatible with voluntary trading. This condition defines a class of production sets, whose properties are related to supportable cost functions and to Aumann-Shapley average cost pricing.
Mathematics Subject Classification ID: 91B38
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 4110417
zbMATH Keywords: increasing returns
zbMATH Keywords: voluntary trading
zbMATH Keywords: multiproduct production sets
zbMATH Keywords: average cost pricing
MaRDI profile type: Publication
OpenAlex ID: W2065719499
cites work: Existence of equilibria when firms follow bounded losses pricing rules
cites work: Generalized Gradients and Applications
cites work: Q5588318
cites work: Competitive equilibria with quantity-taking producers and increasing returns to scale
cites work: General Equilibrium when Some Firms Follow Special Pricing Rules
cites work: Aumann-Shapley prices as a Scarf social equilibrium
cites work: Q4121644
cites work: Demand Compatible Equitable Cost Sharing Prices
cites work: Clarke's tangent cones and the boundaries of closed sets in Rn
cites work: Q3818774
cites work: Supportable cost functions for the multiproduct firm
cites work: Supportability and anonymous equity
Recommended article: Competitive equilibria and benefit distributions of population production economies with external increasing returns
Recommended article: Q3795448
Recommended article: Equilibrium of a production economy with non-compact attainable allocations set
Recommended article: Q3755194
Recommended article: Competitive equilibria with quantity-taking producers and increasing returns to scale
Recommended article: Existence and uniqueness of equilibria with increasing returns
Recommended article: On the existence of equilibria in economies with increasing returns
Recommended article: A dynamic for production economies with multiple equilibria
Recommended article: On two existence results of equilibria in economies with increasing returns
Recommended article: Structure of the equilibria set of a production economy
description: scientific article; zbMATH DE number 4110417