Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/94326
Authors: 
Ma, Jinpeng
Year of Publication: 
1997
Series/Report no.: 
Working Papers, Department of Economics, Rutgers, The State University of New Jersey 1997-12
Abstract: 
This paper studies a production economy with indivisibilities. We provide a characterization for all Walraian equilibria and a necessary and sufficient condition for the existence of Walrasian equilibrium. We find a sufficient condition for every descening (ascending) price process to converge to a Walrasian equilibrium within finite periods of time.
Subjects: 
Walrasian Equilibrium
JEL: 
D41
Document Type: 
Working Paper

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