Sjur Didrik Flåm
() and Kjetil Gramstad
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.
19 pages, May 8, 2012
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