The Exchange Rule in a Fixed Price Exchange Economy
In the finance market,labor market etc.the supply and demand are usually not equal,hence the exchange processes usually happen at disequilibrium prices.In this paper we attempts to present a simple computable disequilibrium exchange rule to describe the exchange process under a fixed price.In the analysis traders are assumed to have linear homogenous utility functions and been treated equally.And under the assumption of irreducibility the existence and uniqueness of the exchange outcome of the disequilibrium exchange rule are investigated.Finally an example with Cobb- Douglas utility functions is given to illustrate the disequilibrium exchange rule.
exchange economy disequilibrium exchange rule equal treatment property
LI Wu
School of Economics,Shanghai University,Shanghai,China,200444
国际会议
大连
英文
687-691
2013-06-29（万方平台首次上网日期，不代表论文的发表时间）