Scandinavian Working Papers in Economics

Working Papers in Economics,
University of Bergen, Department of Economics

No 05/12: Direct Exchange in Linear Economies

Sjur Didrik Flåm () and Kjetil Gramstad ()
Additional contact information
Sjur Didrik Flåm: University of Bergen, Norway, Postal: Department of Economics, Fosswinckelsgt. 14, 5007 Bergen, Norway
Kjetil Gramstad: University of Bergen, Postal: Department of Economics, Fosswinckelsgt. 14, 5007 Bergen, Norway

Abstract: Abstract. Considered here is direct exchange of production allowances or input factors. Motivated by practical modelling and compution, we sup- pose every owner or user of such items has a linear technology. The issue then is whether competitive market equilibrium can be reached merely via iterated bilateral barters. This paper provides positive and constructive answers.

Keywords: Resource markets; transferable utility:competitive equilibrium; core imputations; linear programming; bilateral barters.

JEL-codes: C63; C71; D03; D21

19 pages, May 8, 2012

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