An Edgeworth equilibrium is an allocation that belongs to the core of every n-fold replica of the economy. In [2] we studied in the setting of Riesz spaces the properties of Edgeworth equilibria for pure exchange economies with infinite dimensional commodity spaces. In this work, we study the same problem for economies with production. Under some relatively mild conditions we establish (among other things) that: 1. Edgeworth equilibria exist; 2. Every Edgeworth equilibrium is a quasiequilibrium; and 3. An allocation is an Edgeworth equilibrium if and only if it can be "decentralized" by a price system.
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Length: 42 pages Date of creation: Mar 1986 Date of revision: Publication status: Published in Journal of Economic Theory (December 1987), 43(2): 252-291 Handle: RePEc:cwl:cwldpp:784
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Peleg, Bezalel & Yaari, Menahem E, 1970.
"Markets with Countably Many Commodities,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 369-77, October.
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