Browse

Bargaining and Walrasian Equilibrium in Simple Production Economies

Cited 0 time in Web of Science Cited 0 time in Scopus
Authors
Sonn, SangYoung
Issue Date
2001-10
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.14 No.4, pp. 379-406
Keywords
Gale-type resultproduction economicWalrasian equilibrium
Abstract
We consider a class of production economies in which there are two goods, leisure and a consumption good, and there are a large number of consumers and firms, modelled as continua. We formalize a bargaining procedure in the labor market, and examine the relation between the bargaining equilibria and the Walrasian equilibria of the underlying production economy. We show that every bargaining equilibrium allocation coincides with a Walrasian equilibrium allocation in the underlying economy. So, a Gale-type result is obtained for our production economies.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/1254
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.14(4) (Winter 2001)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse