Equilibria for Pure Exchange Infinite Economies in the Sense of Incomplete Preference
AbstractIn this paper, we introduce a new concept of incomplete preference and cover the known ordering relations such preferences as in economics and semiorder in mathematics. In the sense of the incomplete preference, we obtain a principle of maximal consumption allocations, by which, for a pure exchange economy with infinitely many commodities and infinitely countable agents, we first prove the existence of a quasi-equilibrium, and then conclude that such a quasi-equilibrium can be extended to a general equilibrium of this economy if incomplete preferences are proper in a suitable way.
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Bibliographic InfoArticle provided by Society for AEF in its journal Annals of Economics and Finance.
Volume (Year): 4 (2003)
Issue (Month): 2 (November)
Incomplete preferences; Infinite economies; Maximal consumption allocations; Equilibria;
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
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