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The limit theorem on the core of a production economy in vector lattices with unordered preferences

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  • Rabee Tourky

    (Department of Economics, University of Melbourne, Gratton Street, Parkville, Victoria 3052,Australia)

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    Abstract

    We prove Aliprantis, Brown, and Burkinshaw's (1987) theorem on the equivalence of Edgeworth production equilibria and pseudo-equilibria in a more general setting. We consider production economies with unordered preferences and general consumption sets in a vector lattice commodity space. We adapt the approach of Mas-Colell and Richard (1991) and prove our theorem by applying a separating hyperplane argument in the space of all allocations. We also generalize Podczeck's (1996) important result on the relationship between continuous and discontinuous equilibrium prices to the case of production.

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    Bibliographic Info

    Article provided by Springer in its journal Economic Theory.

    Volume (Year): 14 (1999)
    Issue (Month): 1 ()
    Pages: 219-226

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    Handle: RePEc:spr:joecth:v:14:y:1999:i:1:p:219-226

    Note: Received: April 18, 1997; revised version: February 6, 1998
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    Web page: http://link.springer.de/link/service/journals/00199/index.htm

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    Related research

    Keywords: Riesz space · Vector lattice · Uniform properness · Limit theorem on the core · Production economy.;

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    Cited by:
    1. Charalambos Aliprantis & Monique Florenzano & Rabee Tourky, 2006. "Production equilibria," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00092809, HAL.
    2. Monique Florenzano & Elena Laureana Del Mercato, 2004. "Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods," Cahiers de la Maison des Sciences Economiques b04082, Université Panthéon-Sorbonne (Paris 1).
    3. Aliprantis, Charalambos D. & Tourky, Rabee & Yannelis, Nicholas C., 2000. "Cone Conditions in General Equilibrium Theory," Journal of Economic Theory, Elsevier, vol. 92(1), pages 96-121, May.
    4. V. Filipe Martins-da-Rocha & Frank Riedel, 2008. "On equilibrium prices in continuous time," Working Papers 397, Bielefeld University, Center for Mathematical Economics.
    5. De Simone, Anna & Graziano, Maria Gabriella, 2004. "The pure theory of public goods: the case of many commodities," Journal of Mathematical Economics, Elsevier, vol. 40(7), pages 847-868, November.
    6. repec:hal:journl:halshs-00085726 is not listed on IDEAS
    7. Charalambos Aliprantis & Monique Florenzano & Rabee Tourky, 2005. "Linear and non-linear price decentralization," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00086101, HAL.
    8. Aliprantis, C. D. & Tourky, R. & Yannelis, N. C., 2000. "The Riesz-Kantorovich formula and general equilibrium theory," Journal of Mathematical Economics, Elsevier, vol. 34(1), pages 55-76, August.
    9. repec:hal:journl:halshs-00092809 is not listed on IDEAS

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