Prospectus, March 7, 1984

CONGRESS RETURNS TO A \u27MOST IMPORTANT\u27 STUDENT AID DEBATE; News Digest; Four paintings stolen from Parkland; \u27Job Training and Partnership Act\u27: JTPA \u27good opportunity for dedicated\u27; PC Happenings: TV programs for busy parents, Parkland announces registration, Polish folk arts at Parkland; Sargent talks to Lifelong Learners\u27 Club; Yaxley scholarship; Stu-Go News; \u27Planned Parenthood\u27--pro choice organization; In the Library--Paperbacks; Nolen enjoys differences; What is Sadie Hawkins Day?; Did You Know...; Scholarship news for real estate students; Tuexdo styles are changing; What did you thinnk of the Grammy Awards?; Classifieds; \u27Good looking coed\u27 hunt draws lots of photos; Urbana construction will increase; Learning to relax can kill stress; \u27Women\u27s History Week\u27 honored; Parkland Christian Fellowship to sponsor conference; Weather conditions force closing; Math contest at Parkland; Financia; aid for summer and fall; The latest in swimwear; \u27Western look\u27 changing; Creative Corner...Especially for you!!: Believe..., Creed, Dream, The End, Darkness...; All Up to Me, Listening to an old..., Father to Son, How to know just what is real..., For Larry, Hi, I\u27m crazy ...; Bite the Bullet, Answer, Why can\u27t we see?, Love sparked nu the heat of summer...,Keg, A low rumble starts..., Oh, Mothers..., Has the human race forgot to look at a sunset..., I tried to play your game..., You\u27ve let me down...; Jackson leads the way at this year\u27s Grammy awards; Dexter--valuable asset; $50,000 and silence \u27cheap way for MSU to avoid lawsuit\u27; In the Library--; Channel 12 fund drive stresses \u27TV worth paying for\u27; Woody Allen\u27s latest hilarious; \u27Foghat\u27 hits C/U March 18; Predictions for the upcoming Academy Awards; \u27Big Country\u27 to appear; \u27Full Metal Jacket\u27 talent search; \u27The Right Stuff\u27 finally opens in area; Energetic movie should do well; Baseball Schedule; Bank president--NFL referee; High School Notes; Softball Schedule; Cobra baseball to start; Women win tournament; Lake Land advances in sectional; Mens basketball scores; I.M. News; Cobra men advance to sectional; Cobras end up with last year\u27s record; Tae Kwon Do showed display; Cooper remembers 6 good years; First basketball coach tells how it was; NJCAA meethttps://spark.parkland.edu/prospectus_1984/1029/thumbnail.jp

Is There a Walrasian Equilibrium in Exchange Markets with Endowment Effect

We provide an axiomatic framework for exchange markets with a willingness- to-pay/willingness-to-accept discrepancy. First, we obtain a two parameter family of market invariants under price-scaling representing the excess demand. One of the parameters can be identified as endowment. The other is a new feature, called demand-supply gap, that leads to classical general equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional Hilbert space. We prove that neither can this space be finite dimensional nor can these operators be bounded. Third, if the demand-supply gap is not zero we obtain that price and demand are not simultaneously sharply measurable and consequently a Walrasian equilibrium does not exist