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Classical Competitive Analysis in a Growth Economy with Search

Working Paper 329 | Published January 1, 1989

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Authors

photo of José-Víctor Ríos-Rull

José-Víctor Ríos-Rull University of Pennsylvania

Classical Competitive Analysis in a Growth Economy with Search

Abstract

Arrow-Debreu competitive equilibrium analysis is extended to environments with information sets differing in space as well as in time and with people moving between locations. Equilibrium is shown to exist and to be optimal and the equilibrium price system is characterized. Such environments include many of those studied in the equilibrium search literature.


Published as "Classical Competitive Analysis of Economies with Islands" in _Journal of Economic Theory_ (Vol. 57, No. 1, June 1992, pp. 73-98), https://doi.org/10.1016/S0022-0531(05)80041-9.