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Efficiency of Non-Walrasian Equilibria
P. R. Nayak
Vol. 48, No. 1 (Jan., 1980), pp. 127-134
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1912021
Page Count: 8
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In this paper, Pareto efficiency properties of a non-Walrasian equilibrium for an exchange economy are analyzed. The equilibrium considered is a generalized version of Drèze's equilibrium with price rigidities and rationing.
Econometrica © 1980 The Econometric Society