Competitive equilibrium and indivisibles

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2026_international_mendez_competitive.pdf (2.85 MB)
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URI: https://hdl.handle.net/10347/46823
E-ISSN: 1863-4613
DOI: 10.1007/s12232-026-00524-2

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2026-03-10

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Springer
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Abstract

This paper studies the existence of competitive equilibrium in markets with indivisibles. The basis of the paper is a theorem that relates the existence of equilibrium to the core of certain associated cooperative games. From this result, we obtain a significant improvement on a classical result in this literature. We then characterize the existence of equilibrium in a two-agent three-good economy, showing that, in this particular context, the existence of equilibrium is more likely when goods are complements than when they are substitutes.

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Competitive equilibrium| Indivisibles| Cooperative games

Bibliographic citation

Naya, L.M. (2026). Competitive equilibrium and indivisibles. International Review of Economics, 73:11. https://doi.org/10.1007/s12232-026-00524-2

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Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature. This study was funded by the ERDF and the MINECO/AEI (grant number, MTM2017-87197-C3-3-P).

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Economía Cuantitativa