Existence of equilibria when firms follow bounded losses pricing rules

Jean-Marc Bonnisseau; Bernard Cornet

hal-00187223, version 1

Existence of equilibria when firms follow bounded losses pricing rules

Jean-Marc Bonnisseau () ^1, 2, Bernard Cornet () ^1, 2

Journal of Mathematical Economics 17, 2-3 (1988) 119-147

Résumé : We consider a general equilibrium model of an economy with increasing returns to scale or more general types of non-convexity in production. The firms are instructed to set their prices according to general pricing rules which are supposed to have bounded losses. This includes the case of loss-free pricing rules hence, in particular, profit maximizing and average cost pricing. As for the marginal (cost) pricing rule, the bounded losses assumption for a firm is shown to be equivalent to the ‘star-shapedness' of its production set. This paper reports a general existence result in this model.

1 : CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique (CERMSEM)
CNRS : UMR8095 – Université Paris I - Panthéon-Sorbonne
2 : Center of Operation Research and Econometrics [Louvain] (CORE)
Université Catholique de Louvain (UCL) - Belgique

hal-00187223, version 1
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Contributeur : Jean-Marc Bonnisseau <>
Soumis le : Mercredi 14 Novembre 2007, 06:33:01
Dernière modification le : Mercredi 14 Novembre 2007, 06:33:01

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DOI : 10.1016/0304-4068(88)90003-1

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