Journal Article Cost-benefit Rules in General Equilibrium Get access Robin W. Boadway Robin W. Boadway Queen's University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 3, July 1975, Pages 361–374, https://doi.org/10.2307/2296850 Published: 01 July 1975
Journal Article The Optimum Quota and Retaliation Get access Edward Tower Edward Tower Duke University, Simon Fraser University, and US Treasury Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 4, October 1975, Pages 623–630, https://doi.org/10.2307/2296799 Published: 01 October 1975
Journal Article Liberal Values and Independence Get access Julian H. Blau Julian H. Blau Antioch College Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 3, July 1975, Pages 395–401, https://doi.org/10.2307/2296852 Published: 01 July 1975
Journal Article The Core when Strategies are Restricted by Law Get access Theodore C. Bergstrom Theodore C. Bergstrom Washington University, St Louis Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 2, April 1975, Pages 249–257, https://doi.org/10.2307/2296532 Published: 01 April 1975
Journal Article Agreeable Plans With Many Capital Goods Get access Peter Hammond Peter Hammond University of Essex Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 1, January 1975, Pages 1–14, https://doi.org/10.2307/2296815 Published: 01 January 1975
Journal Article Axioms for Lexicographic Preferences Get access Peter C. Fishburn Peter C. Fishburn Pennsylvania State University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 3, July 1975, Pages 415–419, https://doi.org/10.2307/2296854 Published: 01 July 1975
David Levhari, Jacob Paroush, Bezalel Peleg; Efficiency Analysis for Multivariate Distributions1, The Review of Economic Studies, Volume 42, Issue 1, 1 Jan
In a Walrasian world, prices vary so as to balance supply and demand for each good. Arrow and Debreu proved that under some conditions there exists a set of prices which make the agents' plans compatible. In such a framework, there is really no logical need to require that a particular good plays a special role in trade. We shall prove that such a need arises if we try to set up a concept of equilibrium when the prices are not necessarily Walrasian, and for which there is only one market for each good, that is one equation that says that there is equality between resources and uses for each good. The existence of a non-Walrasian equilibrium requires that there be a good, called money, which has to appear in each transaction or which simply has to be the measuring rod of the profitability of each transaction. We assume a pure exchange economy. There are m consumers (i= 1, ..., m). There are r goods (h = 1, ..., r). Let R'+ be the consumption set of consumer i (H.1). wi his positive initial allocation (H.2). Ui his strictly concave, continuously differentiable, and monotone utility function3 (H.3). We assume that the price vectorp (strictly positive) is given. We prescribe the following condition on an allocation: