QUASI-EQUILIBRIA IN MARKETS WITH NON-CONVEX PREFERENCES.

Abstract

An upper bound is placed on social divergence from general equilibrium, due to non-convexity of the traders' preference relations. Existence and significance of certain quasi-equilibria are investigated. If there is a sufficiently large number of traders in the market, the existence of a configuration arbitrarily close to equilibrium is demonstrated. (Author)

Document Details

Document Type
Technical Report
Publication Date
Mar 28, 1966
Accession Number
AD0630627

Entities

People

  • Ross M. Starr

Organizations

  • Stanford University

Tags

Fields of Study

  • Economics

Readers

  • Industrial Economics
  • Operations Research
  • Theoretical Analysis.