Econometrica: Jan 1974, Volume 42, Issue 1
Equilibrium in a Finite Sequence of Markets with Transaction Cost
https://doi.org/0012-9682(197401)42:1<1:EIAFSO>2.0.CO;2-7
p.
1-20
Mordecai Kurz
The work extends the results of an earlier paper by Hahn; it presents a model of a barter economy with a sequence of markets in which each trader operates with his own transaction technology. An equilibrium is proved to exist and the efficiency of equilibrium is discussed.Log In To View Full Content