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This paper proves the existence of competitive equilibrium in a single sector dynamic economy with elastic labor supply. The method of proof relies on some recent results (see Le Van and Saglam [2004]) concerning the existence of Lagrange multipliers in infinite dimensional spaces and their...
Persistent link: https://www.econbiz.de/10005220190
This paper deals with multiobjective programming problems with inequality, equality and set constraints involving Dini or Hadamard differentiable functions. A theorem of the alternative of Tucker type is established, and from which Kuhn-Tucker necessary conditions for local Pareto minima with...
Persistent link: https://www.econbiz.de/10005670975
We prove the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor supply. The method of proof relies on exploiting the existence of Lagrange multipliers in infinite dimensional spaces and the link between Pareto-optima and...
Persistent link: https://www.econbiz.de/10005670979