Seminar in Microeconomics - Damiano Turchet (University of Warwick)
Wann
Donnerstag, 6. Juli 2023
14 bis 15 Uhr
Wo
University Konstanz, F208
Veranstaltet von
Vortragende Person/Vortragende Personen:
Damiano Turchet (University of Warwick)
Titel: On the Existence of Monopoly Equilibrium: a Substitutability Approach
We study the existence of a monopoly equilibrium in the bilateral mixed exchange framework introduced in Busetto et al.(2023). Non existence examples in which small traders have CES utility functions are provided and a link between the existence of an equilibrium and the degree of substitutability of the goods is explored. Therefore, the existence result is proved by introducing a sufficient assumption on the utilities of the small traders, stressing that we need them to be locally equivalent to a constant elasticity of scale utility function, whose elasticity parameter is greater than unity.
Registration to Ms. Madeleine Hafner per E-Mail