dc.contributor.author | Lahiri, Somdeb | |
dc.date.accessioned | 2010-01-16T11:36:52Z | |
dc.date.available | 2010-01-16T11:36:52Z | |
dc.date.copyright | 2000-04 | |
dc.date.issued | 2010-01-16T11:36:52Z | |
dc.identifier.uri | http://hdl.handle.net/11718/784 | |
dc.description.abstract | In this paper, we provide a simple proof of the one-dimensional version of the Kakutani s fixed point theorem, which is required to prove the existence of a Walrasian equilibrium in a two commodity multi-agent economy where preferences are convex. In a final section of this paper we apply the Kakutani s fixed point theorem to prove the existence of what we call an equitable equilibrium with rationing in a model where each individual is endowed with positive quantities of two goods. The solution is very similar to the solution due to Dreze (1975) except that ours is not a fixed price solution. It is a problem of resource allocation from an initial position and the solution we propose falls within the general category of non-Walrasian equilibria. | en |
dc.language.iso | en | en |
dc.relation.ispartofseries | WP;2000-04-01/1593 | |
dc.subject | Fixed point theorems (Topology) | en |
dc.title | One dimensional Kakutani's fixed point theorem in problems of fair division: a classroom capsule | en |
dc.type | Working Paper | en |