Classical competitive analysis of economies with Islands

Edward Prescott, Jose Victor Rios-Rull

Research output: Contribution to journalArticle

16 Citations (Scopus)

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 studies in the sectoral reallocation literature.

Original languageEnglish (US)
Pages (from-to)73-98
Number of pages26
JournalJournal of Economic Theory
Volume57
Issue number1
DOIs
StatePublished - 1992
Externally publishedYes

Fingerprint

Competitive analysis
Competitive equilibrium
Equilibrium price
Equilibrium analysis
Reallocation

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

Classical competitive analysis of economies with Islands. / Prescott, Edward; Rios-Rull, Jose Victor.

In: Journal of Economic Theory, Vol. 57, No. 1, 1992, p. 73-98.

Research output: Contribution to journalArticle

Prescott, Edward ; Rios-Rull, Jose Victor. / Classical competitive analysis of economies with Islands. In: Journal of Economic Theory. 1992 ; Vol. 57, No. 1. pp. 73-98.
@article{2f02da53adcf4881967bde100354155f,
title = "Classical competitive analysis of economies with Islands",
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 studies in the sectoral reallocation literature.",
author = "Edward Prescott and Rios-Rull, {Jose Victor}",
year = "1992",
doi = "10.1016/S0022-0531(05)80041-9",
language = "English (US)",
volume = "57",
pages = "73--98",
journal = "Journal of Economic Theory",
issn = "0022-0531",
publisher = "Academic Press Inc.",
number = "1",

}

TY - JOUR

T1 - Classical competitive analysis of economies with Islands

AU - Prescott, Edward

AU - Rios-Rull, Jose Victor

PY - 1992

Y1 - 1992

N2 - 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 studies in the sectoral reallocation literature.

AB - 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 studies in the sectoral reallocation literature.

UR - http://www.scopus.com/inward/record.url?scp=0001871046&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0001871046&partnerID=8YFLogxK

U2 - 10.1016/S0022-0531(05)80041-9

DO - 10.1016/S0022-0531(05)80041-9

M3 - Article

AN - SCOPUS:0001871046

VL - 57

SP - 73

EP - 98

JO - Journal of Economic Theory

JF - Journal of Economic Theory

SN - 0022-0531

IS - 1

ER -