General Equilibrium price taking(伦敦经济学院高级微观讲义).ppt

General Equilibrium: price taking Some puzzles in competitive equilibrium analysis The situation from Alfs point of view Alfs offer curve ...as an Australian Bills offer curve Given competitive behaviour, the CE is the only consistent allocation So where do the prices come from? A fresh approach The idea of blocking: a little story A formal approach In a 2-person world there are very few coalitions possible The competitive equilibrium again A simple result The extremes of the 2-person core So lets clone the economy All the old coalitions are possible... How the blocking coalition works If N i