The Existence of Equilibrium without Free Disposal in Economies with Transaction Costs and Incomplete Markets
构建了一个包含交易成本的一般经济模型，利用Bergstrom方法去掉自由处置假设，证明了竞争均衡的存在，并以此讨论不完全市场经济中均衡存在的条件。
This paper presents a general model of an economy with transaction costs, and proves the existence of a competitive equilibrium using T. C. Bergstrom's procedure to discard the free-disposal assumption. Since economies with incomplete markets are shown to be special cases of economies with transaction costs, this result is used to discuss the conditions for the existence of an equilibrium in economies with incomplete markets. Copyright 1987 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.