On the Existence and Optimality of Competitive Equilibrium for a Slave Economy
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Abstract Motivated by recent work of Huang and Kreps it is shown that the existence of a general equilibrium in an exchange economy whose commodity space is a vector lattice is guaranteed if in addition to standard hypotheses the price space is also a lattice. To answer the latter question, we need to calculate two things.
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I investigate the latter two questions empirically. The answer to the first question is "Yes". Spotty evidence suggests that the answer to the second question was also often "Yes. Skip to main content. UC Santa Barbara.
Email Facebook Twitter. Abstract A famous paper by Conrad and Meyer calculates that on the eve of the American Civil War, slave prices were about equal to the present values of the slaves' labor services.
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