The equilibrium existence duality: equilibrium with indivisibilities & income effects
We show that, with indivisible goods, the existence of competitive equilibrium fundamentally depends on agents' substitution effects, not their income effects. Our Equilibrium Existence Duality allows us to transport results on the existence of competitive equilibrium from settings with transfe...
| Main Authors: | , , , |
|---|---|
| Format: | Working paper |
| Published: |
University of Oxford
2020
|