• Title of article

    A competitive market model for indivisible commodities

  • Author/Authors

    Zaifu Yang، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2003
  • Pages
    7
  • From page
    41
  • To page
    47
  • Abstract
    A general competitive market model for trading indivisible goods is introduced. There are a group of traders and several indivisible goods. Each trader is initially endowed with several units of each indivisible good and some amount of money. Traders have preferences over the bundle of indivisible goods and the quantity of money they consume. It is shown that the market has a Walrasian equilibrium if and only if an associated linear program problem has an optimal solution with its value equal to the potential market value, and that the equilibrium prices of the goods and the profits of the traders are the optimal solutions of the linear program problem.
  • Keywords
    Market , Indivisibility , Walrasian equilibrium , linear program , Potential market value
  • Journal title
    Economics Letters
  • Serial Year
    2003
  • Journal title
    Economics Letters
  • Record number

    435081