Skip to Main content Skip to Navigation
Journal articles

Discrete Walrasian Exchange Process

Abstract : In an exchange economy, we define a discrete exchange process, which is Walrasian since the trades are determined by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price then supports the Pareto optimal allocation. Furthermore, along the process, the allocation remains feasible and the utility of each consumer is non-decreasing.
Complete list of metadatas
Contributor : Jean-Marc Bonnisseau <>
Submitted on : Friday, November 4, 2011 - 11:32:25 AM
Last modification on : Tuesday, January 19, 2021 - 11:08:50 AM

Links full text



Jean-Marc Bonnisseau, Orntangar Nguenamadji. Discrete Walrasian Exchange Process. Economic Theory, Springer Verlag, 2013, 52 (3), pp.1091-1100. ⟨10.1007/s00199-011-0682-y⟩. ⟨halshs-00638196⟩



Record views