Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9549554 | Economics Letters | 2005 | 7 Pages |
Abstract
Exchange economies with indivisible objects, money and quasi-linear utilities generate non-negative superadditive transferable utility (TU) games. If such an economy has a price equilibrium, then this TU game is balanced. In this note, we prove that the converse of this statement is also true, i.e. every non-negative superadditive and balanced TU game generates an exchange economy with a price equilibrium.
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Economics and Econometrics
Authors
M.A. Meertens,