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An equilibrium existence theorem for atomless economies without the monotonicity assumption

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Author Info
Chiaki Hara () (Institute of Economic Research, Kyoto University)
Abstract

We consider an exchange economy with an atomless space of consumers whose preference relations need not be monotone. We prove that if for every commodity, there is a group of consumers who regard it as potentially desirable, in a sense to be made precise, then there exists a competitive equilibrium, however small the proportion of such a group may be in the entire economy.

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File URL: http://economicsbulletin.vanderbilt.edu/2006/volume4/EB-06D50009A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 4 (2006)
Issue (Month): 34 ()
Pages: 1-5
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:4:y:2006:i:34:p:1-5

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Related research
Keywords: Atomless economy; competitive equilibrium; existence; free disposal.; monotonicity;

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

References listed on IDEAS
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  1. Schmeidler, David, 1969. "Competitive Equilibria in Markets with a Continuum of Traders and Incomplete Preferences," Econometrica, Econometric Society, vol. 37(4), pages 578-85, October. [Downloadable!] (restricted)
  2. Chiaki Hara, 2005. "Existence of Equilibria in Economies with Bads," Econometrica, Econometric Society, vol. 73(2), pages 647-658, 03. [Downloadable!] (restricted)
  3. Gerard Debreu, 1961. "New Concepts and Techniques for Equilibrium Analysis," Cowles Foundation Discussion Papers 129, Cowles Foundation, Yale University. [Downloadable!]
  4. McKenzie, Lionel W, 1981. "The Classical Theorem on Existence of Competitive Equilibrium," Econometrica, Econometric Society, vol. 49(4), pages 819-41, June. [Downloadable!] (restricted)
  5. Hildenbrand, Werner, 1970. "Existence of Equilibria for Economies with Production and a Measure Space of Consumers," Econometrica, Econometric Society, vol. 38(5), pages 608-23, September. [Downloadable!] (restricted)
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This page was last updated on 2009-12-12.


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