Open core and quasi-equilibria with lower semi-continuous preferences

This note introduces a new concept of core - open core, using which it shows a quasi-equilibrium existence result in an economy where consumers' preference relations are assumed to be lower semi-continuous, but not necessarily to have open lower sections nor to be open valued, such as the lexicographic ordering. As an application, a competitive equilibrium existence result without non-satiation assumption is proved.

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Year of publication:	1999-04-15
Authors:	Sun, Ning
Published in:	Economic Theory. - Springer. - Vol. 13.1999, 3, p. 735-742
Publisher:	Springer
Subject:	Open core Quasi-equilibrium \| Lower semi-continuity \| Existence.

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: October 28, 1996; revised version: November 4, 1997
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005597894