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• W2022066936 abstract "Abstract We introduce a framework for analyzing Bertrand–Edgeworth equilibria in finite Arrow–Debreu exchange economies. A key feature is the way trade takes place. There are two main stages. In the first stage agents simultaneously choose prices and quantities of commodities they want to sell; in the second stage they enter the markets as buyers, sequentially, and choose quantities of commodities they want to buy. We view the framework as providing a realistic, entirely decentralized abstraction of how trade occurs on numerous markets, especially for consumer goods and services, and show that resulting equilibria are Walrasian if and only if initial endowments are already Pareto efficient allocations." @default.
• W2022066936 created "2016-06-24" @default.
• W2022066936 creator A5007114681 @default.
• W2022066936 date "2003-07-01" @default.
• W2022066936 modified "2023-10-17" @default.
• W2022066936 title "Bertrand-edgeworth equilibria in finite exchange economies" @default.
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• W2022066936 doi "https://doi.org/10.1016/s0304-4068(03)00020-x" @default.
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