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In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this...
Persistent link: https://www.econbiz.de/10005630651
In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this...
Persistent link: https://www.econbiz.de/10005370865
For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the fuzzy rejective core. Then, via Konovalov (1998, 2005)'s equivalence result, we solve the equilibrium with dividends existence problem....
Persistent link: https://www.econbiz.de/10010780014
In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this...
Persistent link: https://www.econbiz.de/10010750696
For an exchange economy, under assumptions which did not bring about the existence of quasiequilibrium with dividends as yet, we prove the nonemptiness of the fuzzy rejective core. Then, via Konovalov (1998, 2005)'s equivalence result, we solve the equilibrium (with dividends) existence problem....
Persistent link: https://www.econbiz.de/10010605323
For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the Edgeworth rejective core. Then, via Konovalov (1998, 2005)’s decentralization result, we solve the equilibrium with dividends existence...
Persistent link: https://www.econbiz.de/10010608640
Persistent link: https://www.econbiz.de/10010065141
Persistent link: https://www.econbiz.de/10007155860
Persistent link: https://www.econbiz.de/10002199723
The general purpose of this paper is to prove quasiequilibrium existence theorems for production economies with general consumption sets in an infinite dimensional commodity space, without assuming any monotonicity of preferences or free-disposal in production.
Persistent link: https://www.econbiz.de/10005475329