Document Type

Working Paper

Publication Date

1-21-2007

Working Paper Number

WP #07003, January 2007; Old working paper #12711

Abstract

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.

JEL Classification

D50

File Format

application/pdf

Length

22 pages

File Function

Previously entitled "A core convergence theorem in possibly nonconvex production economies."

Included in

Economics Commons

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