In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either local or global nonsatiation. Werner's existence result...

In the framework of economics models with unbounded short sales a number of different conditions limiting arbitrage opportunities have been introduced. Dana, Le Van and Magnien [JET.87(1999)169] appeal to the condition of compactness of the individually rational utility set and show that all...

In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either local or global nonsatiation. Werner's existence result...

In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica, 1987) proved the existence of a competitive equilibrium, under a price no- arbitrage condition, without assuming either local or global nonsatiation. Werner's existence result...

In the framework of economics models with unbounded short sales a number of different conditions limiting arbitrage opportunities have been introduced. Dana, Le Van and Magnien [JET.87(1999)169] appeal to the condition of compactness of the individually rational utility set and show that all...

Since Hart's [5] and Werner's [10] seminal papers, several conditions have been proposed to show the existence of equilibrium in an asset exchange economy with short-selling. In this note, we discuss the relationship between two no-arbitrage conditions. The first condition is the assumption that...

In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either local or global nonsatiation. Werner's existence result...