Question: if a market is a good object insofar as the agents’ prices converge… but with concave frontiers/utilities the agents’ prices tend to diverge… what other good objects arise in the presence of concave frontiers/utilities?
I suppose you mean “convex”, not “concave”. This confused me for a good long while.
I suppose you mean “convex”, not “concave”. This confused me for a good long while.
Fixed. Thanks, and sorry for the confusion.