On Market Equilibrium Analysis

14 Pages Posted: 31 Mar 2020

See all articles by Jean‐Paul Chavas

Jean‐Paul Chavas

University of Maryland

Thomas L. Cox

University of Wisconsin - Madison - Department of Agricultural & Applied Economics

Date Written: May 1997

Abstract

In this paper we develop the implications of competitive market equilibrium for production and household behavior when some prices are endogenously determined. The properties of market equilibrium functions are explored, including the effects of pricing policy. A Slutsky‐type equation relating compensated and uncompensated market equilibrium functions is derived. Implications for multimarket welfare analysis are presented, focusing on the effects of pricing policy and technical change.

Keywords: market equilibrium, pricing policy, technical change, welfare, D510

Suggested Citation

Chavas, Jean‐Paul and Cox, Thomas L., On Market Equilibrium Analysis (May 1997). American Journal of Agricultural Economics, Vol. 79, Issue 2, pp. 500-513, 1997, Available at SSRN: https://ssrn.com/abstract=3562592 or http://dx.doi.org/10.2307/1244147

Jean‐Paul Chavas (Contact Author)

University of Maryland

Thomas L. Cox

University of Wisconsin - Madison - Department of Agricultural & Applied Economics ( email )

427 Lorch St.
Madison, WI 53706-1503
United States
608-262-9493 (Phone)

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