Martin Osborne; Ariel Rubinstein

Published On


Page Range

pp. 175–186


  • English

Print Length

11 pages

A market with consumers and producers

This chapter describes two models that extend the model of an exchange economy to economies in which goods are produced. We do not analyze the models in detail, but only prove, for each model, one result regarding the Pareto stability of the equilibrium outcome.


Martin J. Osborne

Professor Emeritus of Economics at University of Toronto

Ariel Rubinstein

Emeritus in School of Economics at Tel Aviv University
Professor of Economics at New York University