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Valuation and Optimality in Exchange Economies with a Countable Number of Agents

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We present versions of the two fundamental welfare theorems of economics for exchange economies with a countable number of agents and an infinite dimensional commodity space. These results are then specialized to the overlapping generations model.

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  • Donald J. Brown & Charalambos Aliprantis & Owen Burkinshaw, 1987. "Valuation and Optimality in Exchange Economies with a Countable Number of Agents," Cowles Foundation Discussion Papers 838, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:838
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    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d08/d0838.pdf
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    1. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    2. Aliprantis, Charalambos D. & Brown, Donald J., 1983. "Equilibria in markets with a Riesz space of commodities," Journal of Mathematical Economics, Elsevier, vol. 11(2), pages 189-207, April.
    3. Wilson, Charles A., 1981. "Equilibrium in dynamic models with an infinity of agents," Journal of Economic Theory, Elsevier, vol. 24(1), pages 95-111, February.
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    5. Donald J. Brown & Charalambos Aliprantis & Owen Burkinshaw, 1987. "Equilibria in Exchange Economies with a Countable Number of Agents," Cowles Foundation Discussion Papers 834R, Cowles Foundation for Research in Economics, Yale University.
    6. McKenzie, Lionel W, 1981. "The Classical Theorem on Existence of Competitive Equilibrium," Econometrica, Econometric Society, vol. 49(4), pages 819-841, June.
    7. Balasko, Yves & Shell, Karl, 1981. "The overlapping-generations model. II. The case of pure exchange with money," Journal of Economic Theory, Elsevier, vol. 24(1), pages 112-142, February.
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