Market Commodity Structure in General Equilibrium Model : The Commodification Technology

Urai, Ken; Murakami, Hiromi; Weiye, Chen; Yijik, Oh

Market Commodity Structure in General Equilibrium Model : The Commodification Technology

Urai, Ken; Murakami, Hiromi; Weiye, Chen et al.

Discussion Papers In Economics And Business, 2023, 23-10, 1-19

Number of Access:657（2025-08-27 04:45 Counts）

Identifier to cite or link to this item: https://hdl.handle.net/11094/92525

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Title	Market Commodity Structure in General Equilibrium Model : The Commodification Technology
Creator	NRID 1000000203597 1000000203597 researchmap permalink read0175173 read0175173 Scopus Author ID 24287014300 24287014300 CreatorName Urai, Ken
	NRID 1000080803072 1000080803072 CreatorName Murakami, Hiromi
	CreatorName Weiye, Chen
	CreatorName Yijik, Oh
Subject	General Equilibrium Model
	Commodity Differentiation
	Market Structure
	Asymmetoric Information
	Commodification Technology
Abstract	In this paper, we formalize the concept of commodification technology determining a commodity structure of the market as an extension of the standard Arrow-Debreu general equilibrium framework. Like the commodity differentiation approach in Mas-Colell (1975) and the hedonic approach in Rosen (1974), we treat a commodity as a bandle of characteristics. Such quality of each commodity as well as the market viability problem under asymmetric-information arguments like Dubey et al. (2000) and Bisin et al. (2011) to determine the market structure will be treated uniformly as an endogenous equilibrium state in a strict sense of the general equilibrium theory. In our model, a market participant (a consumer or a producer ) is supposed to have a commodification technology that enables each agent to prepare for market commodities based on their endowments and the transformation technology on basic characteristics, representing the costs for standardization, advertisement, signaling, etc.
Publisher	Graduate School of Economics, Osaka University
Source Title	Discussion Papers In Economics And Business
Volume (Issue)	23-10
Page	1-19
Date of Issued	2023-09
Language	English
Handle URL	https://hdl.handle.net/11094/92525
Relation.references	URI http://www2.econ.osaka-u.ac.jp/econ_society/dp/2310.pdf
Access Rights	metadata only access
Category	ディスカッション／ワーキング・ペーパー DP/WP
Category	Discussion Papers In Economics And Business

Resource Type	technical report
Local Type	DP/WP
DCMI Type	Text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business. 2023, 23-10, p. 1-19
DC.title	Market Commodity Structure in General Equilibrium Model : The Commodification Technology
DC.creator	Urai, Ken
	Murakami, Hiromi
	Weiye, Chen
	Yijik, Oh
DC.publisher	Graduate School of Economics, Osaka University
DC.language' scheme='DCTERMS.RFC1766	English
DC.type' scheme='DCTERMS.DCMIType	Text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2023-09
DC.relation' scheme='DCTERMS.URI	http://www2.econ.osaka-u.ac.jp/econ_society/dp/2310.pdf
DC.subject	General Equilibrium Model
	Commodity Differentiation
	Market Structure
	Asymmetoric Information
	Commodification Technology
DCTERMS.abstract	In this paper, we formalize the concept of commodification technology determining a commodity structure of the market as an extension of the standard Arrow-Debreu general equilibrium framework. Like the commodity differentiation approach in Mas-Colell (1975) and the hedonic approach in Rosen (1974), we treat a commodity as a bandle of characteristics. Such quality of each commodity as well as the market viability problem under asymmetric-information arguments like Dubey et al. (2000) and Bisin et al. (2011) to determine the market structure will be treated uniformly as an endogenous equilibrium state in a strict sense of the general equilibrium theory. In our model, a market participant (a consumer or a producer ) is supposed to have a commodification technology that enables each agent to prepare for market commodities based on their endowments and the transformation technology on basic characteristics, representing the costs for standardization, advertisement, signaling, etc.
DC.format	92525
citation_title	Market Commodity Structure in General Equilibrium Model : The Commodification Technology
citation_author	Urai, Ken
	Murakami, Hiromi
	Weiye, Chen
	Yijik, Oh
citation_publisher	Graduate School of Economics, Osaka University
citation_language	English
citation_date	2023-09
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	23-10
citation_firstpage	1
citation_lastpage	19
citation_public_url	https://hdl.handle.net/11094/92525
citation_abstract_html_url	http://www2.econ.osaka-u.ac.jp/econ_society/dp/2310.pdf

Market Commodity Structure in General Equilibrium Model : The Commodification Technology

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