Working Paper Number
WP #07003, January 2007; Old working paper #12711
In production economies, the extent to which non-equilibria are blocked depends on specific rules that allocate authority among shareholders, because a blocking coalition's resources are affected by the firms it jointly owns with outsiders. Based on a notion of stochastic blocking, we extend Anderson's (1978) core convergence theorem to production economies where preferences and technologies are not necessarily convex.
Previously entitled "A core convergence theorem in possibly nonconvex production economies."
Xiong, Siyang and Zheng, Charles Zhoucheng, "Stochastic blocking and core convergence in nonconvex production economies" (2007). Economics Working Papers (2002–2016). 178.