Existence of Competitive Equilibrium in Piecewise Linear and Concave Exchange Economies and the non-symmetric Nash Bargaining Solution

In this paper we show that for concave piecewise linear exchange economies every competitive equilibrium satisfies the property that the competitive allocation is a non-symmetric Nash bargaining solution with weights being the initial income of individual agents evaluated at the equilibrium price vector. We prove the existence of competitive equilibrium for concave piecewise linear exchange … Read more