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Perfect Competition

  • Robert P. Gilles
Part of the Theory and Decision Library book series (TDLC, volume 12)

Abstract

The powerful conclusions on the equivalence of certain Edgeworthian barter processes and the Walrasian price mechanism as presented in the previous chapter bring up questions regarding the causes of these equivalences. As indicated in Chapter 6 the most important conditions for equivalence are those of atom-lessness and conformability of the coalitionally structured population of the exchange system in question. In this chapter we try to unravel some features of these structural requirements. We emphasize that these conditions are social in the sense that these requirements concern the social trade infrastructure in place in the economy.

Keywords

Exchange System Economic Agent Coalitional Structure Shopping Mall Price Mechanism 
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Copyright information

© Kluwer Academic Publishers 1996

Authors and Affiliations

  • Robert P. Gilles
    • 1
  1. 1.Virginia Polytechnic Institute and State UniversityBlacksburgUSA

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