Indivisible Labor, Lotteries and Equ|ijbi~3us~

  title={Indivisible Labor, Lotteries and Equ|ijbi~3us~},
  author={R F Rogerson},
During the last decade general equilibrium theory has become an increasingly common framework in which to study the aggregate properties ef economies [see, e.g., Lucas (1981)]. In its original form [see Debreu (1959)] general equilibrium theory was developed in the context of convex economic envirok~ments, but has since been extended to non-convex environments [see Aumann (1966) and Mas-ColcU (1977)]. The concern of these authors was the existence of equilibrium. They show that if there is a… CONTINUE READING


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