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Prove that the first welfare theorem doesn't hold when agent A solves: max x_{1A} + x_{2A} s.t p x_{1A} + x_{2A} le 2p + 1,
Prove that the first welfare theorem doesn't hold when agent A solves: \max x_{1A} + x_{2A} s.t p x_{1A} + x_{2A} \le 2p + 1, agent B solves \max p (1 + \epsilon)x_{1B} + x_{2B} s.t p x_{1B} + x_{2B} \le p + 2. The goods are indivisibles goods
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
