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Some sufficient conditions for the existence of a competitive equilibrium in economies with satiated consumers

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Author Info
Norihisa Sato () (Graduate School of Economics, Waseda University)
Abstract

It is well known that a competitive equilibrium may fail to exist when consumers' preferences are possibly satiated. In this paper, we provide three new sufficient conditions for the existence of a competitive equilibrium in the standard Arrow-Debreu pure exchange economy with satiated consumers. We first consider a condition that restricts the behavior of the excess demand correspondence on the boundary of a certain subset of the price domain. Another two sufficient conditions are obtained by using the existence result under this condition.

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File URL: http://economicsbulletin.vanderbilt.edu/2008/volume3/EB-08C60003A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 3 (2008)
Issue (Month): 73 ()
Pages: 1-8
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:3:y:2008:i:73:p:1-8

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Related research
Keywords: excess demand correspondence; satiation; competitive equilibrium;

Find related papers by JEL classification:
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
D5 - Microeconomics - - General Equilibrium and Disequilibrium

References listed on IDEAS
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  1. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation, Yale University. [Downloadable!]
  2. Allingham, Michael, 1991. "Existence Theorems in the Capital Asset Pricing Model," Econometrica, Econometric Society, vol. 59(4), pages 1169-74, July. [Downloadable!] (restricted)
  3. Nizar Allouch & Cuong Le Van, 2008. "Walras and dividends equilibrium with possibly satiated consumers," Documents de travail du Centre d'Economie de la Sorbonne b08010, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne. [Downloadable!]
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  4. Werner, Jan, 1987. "Arbitrage and the Existence of Competitive Equilibrium," Econometrica, Econometric Society, vol. 55(6), pages 1403-18, November. [Downloadable!] (restricted)
  5. Polemarchakis, H. M. & Siconolfi, P., 1993. "Competitive equilibria without free disposal or nonsatiation," Journal of Mathematical Economics, Elsevier, vol. 22(1), pages 85-99. [Downloadable!] (restricted)
  6. Ning Sun, 1999. "Open core and quasi-equilibria with lower semi-continuous preferences," Economic Theory, Springer, vol. 13(3), pages 735-742. [Downloadable!] (restricted)
  7. Nielsen, Lars Tyge, 1989. "Asset Market Equilibrium with Short-Selling," Review of Economic Studies, Blackwell Publishing, vol. 56(3), pages 467-73, July. [Downloadable!] (restricted)
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