Transaction Costs and the Equilibrium of Pure Change Economy
交易成本与纯交换经济的竞争均衡

In this paper we concern with a pure change economy. We suppose that there is transaction cost when the transaction occoured between the agents, then some markets may close due to higher transaction cost, this formes a essential different between the model presented here and classical general equilibrium theory. A general equilibrium model with transaction cost is given and the existence of the equilibria is proved.