Equilibrium in a discrete exchange economy with money

Abstract

We consider a market in which there aren traders each of whom owns an object and some amount of money. It is shown that under rather mild conditions on demand the market will have a price equilibrium. The proof makes use of a generalization of a well known result of combinatorial topology.

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Reference

  1. Quinzii, M.: Core and Competitive Equilibria with Indivisibilities. International Journal of Game Theory, this issue.

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Gale, D. Equilibrium in a discrete exchange economy with money. Int J Game Theory 13, 61–64 (1984). https://doi.org/10.1007/BF01769865

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Keywords

  • Economic Theory
  • Game Theory
  • Mild Condition
  • Price Equilibrium
  • Exchange Economy