MARKET ECONOMIES WITH AN ENDOGENOUS SOCIAL DIVISION OF LABOR
研究了一个竞争性市场经济模型，其中生产通过内生社会分工进行，证明了竞争均衡的存在性和福利经济学基本定理，并指出生产技术完全决定均衡价格。
Abstract I consider a general equilibrium model of a competitive market economy in which production is conducted through an endogenous social division of labor. I represent economic decision makers as “consumer–producers,” who consume as well as produce commodities. In this approach, the emergence of a nontrivial social division of labor is guided by Increasing Returns to Specialization (IRSpec) in production. Under IRSpec, I show existence of competitive equilibria, the two fundamental theorems of welfare economics, and characterize these equilibria. Markets equilibrate through the adjustment of the social division of labor; the production technologies completely determine the equilibrium prices.