Browsing by Author "Florig, Michael"

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    • Existence of a competitive equilibrium when all goods are indivisible 
      Florig, Michael; Rivera Cayupi, Jorge (Universidad de Chile, Facultad de Economía y Negocios, 2015-05)
      We study a production economy where all consumption goods are indivisible at the individual level but perfectly divisible at the overall economy level. In order to facilitate the exchange in this setting, we introduce a ...
    • Walrasian equilibrium as limit of a competitive equilibrium without divisible goods 
      Florig, Michael; Rivera Cayupi, Jorge (Universidad de Chile, Facultad de Economía y Negocios, 2015-05)
      We study economies where all commodities are indivisible at the individual level, but perfectly divisible at the aggregate level of the economy. Under the survival assumption, we show that a competitive outcome in the ...