Competitive equilibrium in an exchange economy with indivisibilities
成果类型：
Article
署名作者：
Bikhchandani, S; Mamer, JW
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.2269
发表日期：
1997
页码：
385-413
关键词：
摘要：
We analyze an exchange economy in which (i) all commodities except money are indivisible, (ii) agents' preferences can be described by a reservation value for each bundle of indivisible objects, and (iii) all agents are price-takers. We obtain a necessary and sufficient condition under which market clearing prices exist. Implications for market mechanisms are discussed. (C) 1997 Academic Press.