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Utility-refined and budget-refined ɛ-competitive equilibria

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  • Tasnádi, Attila

Abstract

In finitely additive exchange economies the usual definition of competitive equilibrium can result in an empty equilibrium set, and therefore one has to consider notions of ɛ-competitive equilibria. In this paper we investigate the relationship between two notions of ɛ-competitive equilibria.

Suggested Citation

  • Tasnádi, Attila, 2022. "Utility-refined and budget-refined ɛ-competitive equilibria," Economics Letters, Elsevier, vol. 212(C).
    • Handle: RePEc:eee:ecolet:v:212:y:2022:i:c:s0165176522000052
    DOI: 10.1016/j.econlet.2022.110278
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    References listed on IDEAS

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    1. Armstrong, Thomas E. & Richter, Marcel K., 1986. "Existence of nonatomic core-walras allocations," Journal of Economic Theory, Elsevier, vol. 38(1), pages 137-159, February.
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    3. Weiss, Ernst-August Jr., 1981. "Finitely additive exchange economies," Journal of Mathematical Economics, Elsevier, vol. 8(3), pages 221-240, October.
    4. Khan, M. Ali & Qiao, Lei & Rath, Kali P. & Sun, Yeneng, 2020. "Modeling large societies: Why countable additivity is necessary," Journal of Economic Theory, Elsevier, vol. 189(C).
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    More about this item

    Keywords

    Competitive equilibrium; Approximate equilibrium; Exchange economies;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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