In contrast to the neo-classical theory of Arrow and Debreu, a model of a private ownership economy ispresented, in which production and consumption bundles are treated separately. Each ofthe two types of bundles is assumed to establish a convex cone. Production technologies can convert...

This paper proves core-equivalence theorems for exchange economies without ordered preferences, defined on locally convex Riesz commodity spaces such that the price space is a lattice. Properness assumptions are borrowed from some recent equilibrium existence results

This paper provides a framework for establishing the determinacy of equilibria in general equilibrium models with infinitely many commodities and a finite number of consumers and producers. This paper defines a notion of regular economy for such models and gives sufficient conditions on the...

For his proof of the existence of a general competitive equilibrium Abraham Wald assumed a strictly pseudomonotone inverse market demand function or, equivalently, that market demand satisfies the Weak Axiom of Revealed Preference. It is well known that more recent existence theorems do not need...

In this paper we study full-capacity flat-rate equilibrium in an economy with a numeraire and a dated commodity the latter being physically identical in all other respects. We show that the equilibrium exists even if the unit cost of production is time varying and the associated allocation is...

How far can we go in weakening the assumptions of the general equilibrium model? Existence of equilibrium, structural stability and finiteness of equilibria of regular economies, genericity of regular economies and an index formula for the equilibria of regular economies have been known not to...

Absent convex preferences or in the presence of indivisibilities, many classical results in general equilibrium fail. We provide a simple solution in a continuum economy: allow traders to engage in simple lotteries between two wealth levels. Such lottery equilibria approximately clear finite...

We consider a linear stochastic univariate rational expectations model, with a predetermined variable, and provide alternative representations of SSEs (stationary sunspot equilibria). For a strict subset of the parameter space there exist SSEs that are locally stable under least squares learning...

There are three types of "Anything Goes" results: two of them from economic theory and one from the realms of dynamical systems. The study considers the implications of such results and tries to identify conditions under which certain types of conclusions may be implied: convergence, cycles or...

Usually in an economy with a finite amount of commodity markets, it reaches a general equilibrium only if and when at a given price set value, aggregate supply equals the aggregate demand within these individual markets. In this expository paper, we will take an algebraic topological approach...