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An index theorem for nonconvex production economies

Jouini, Elyès (1992), An index theorem for nonconvex production economies, Journal of Economic Theory, 57, 1, p. 176-196. http://dx.doi.org/10.1016/S0022-0531(05)80047-X

Type
Article accepté pour publication ou publié
Date
1992-06
Journal name
Journal of Economic Theory
Volume
57
Number
1
Publisher
Elsevier
Pages
176-196
Publication identifier
http://dx.doi.org/10.1016/S0022-0531(05)80047-X
Metadata
Show full item record
Author(s)
Jouini, Elyès
Abstract (EN)
We consider a general equilibrium model in which the production sector may exhibit increasing returns to scale or more general types of nonconvexities. We assume that the firms follow general pricing rules. Under standard assumptions in this model, we establish an index formula, which generalizes similar results on exchange economies and on convex production economies. This formula allows us to deduce an equilibrium existence theorem and a uniqueness condition.
Subjects / Keywords
Pricing rule; convex production economy
JEL
C62 - Existence and Stability Conditions of Equilibrium
D51 - Exchange and Production Economies

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