Price quasi-equilibrium with transfers
ID: price-quasi-equilibrium-with-transfers
A price quasi-equilibrium with transfers is an exactly feasible consumption allocation and a nonzero price vector for which, almost everywhere, every strictly preferred bundle has cost at least . The transfer-adjusted wealth is ; transfers sum to zero. Equal-cost strict improvements may remain, which distinguishes a quasi-equilibrium from a utility-maximizing equilibrium. Nonnegative prices need extra assumptions if goods may be undesirable.
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