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Competitive equilibrium with indivisible objects

Yang, Yi-You (2013): Competitive equilibrium with indivisible objects.

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We study exchange economies in which objects are heterogeneous and indivisible, and may not be substitutes for each other. We give new equilibrium existence results with the $p$-substitutability condition, under which a certain degree of complementarity among objects is permitted according to the parameter vector $p$. Moreover, we introduce conditions under which the contributions of objects to the social welfare are equilibrium prices.

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