Showing 1 - 2 of 2
A new condition is introduced for the existence of equilibrium for an economy where preferences need not be transitive or complete and the consumption set of each agent need not be bounded from below. The new condition allows us to extend the literature in two ways. First, the result of the...
Persistent link: https://www.econbiz.de/10005388298
Abstract This paper investigates the existence of equilibrium in an economy where preferences may be non-ordered and possibly satiable. Remarkably, satiation is allowed to occur only inside the set of feasible and individually rational allocations. One important class of its applications is new...
Persistent link: https://www.econbiz.de/10009146643