In this paper we extend the concept of regularity developed by Mas-Colell and Kehoe for constant-returns production economies to economies with primary and intermediate goods. To do so, we must deal with consumer demand functions that satisfy boundary conditions more general than any considered previously. We initially specify the production technology as a linear activity analysis model that allows free disposal of all commodities. Later, we indicate how our results can be extended to economies with more general production technologies.
|Original language||English (US)|
|Number of pages||30|
|Journal||Journal of Mathematical Economics|
|State||Published - Sep 1982|
Bibliographical noteFunding Information:
*The research presented here was partially funded through NSF Grant No. SOC77-00210. Much of it was conducted when I was a visitor at the Department of Operations Research, Stanford University, during the summer of 1978. I am grateful to my dissertation advisors Herbert Scarf and Andreu Mas-Colell for their constant advice, encouragement and guidance. It was Professor Scarf who first suggested to me the idea for the dissertation from which this paper is taken. Most of my understanding of the concept of regularity has developed as a result of conversations and correspondence that I have had with Professor Mas-Colell. I would also like to thank David Levine, Lionel McKenzie and Michael Todd for helpful comments and suggestions.