Satiated economies with unbounded consumption sets : fuzzy core and equilibrium
AbstractFor an exchange economy, under assumptions which did not bring about the existence of quasiequilibrium with dividends as yet, we prove the nonemptiness of the fuzzy rejective core. Then, via Konovalov (1998, 2005)'s equivalence result, we solve the equilibrium (with dividends) existence problem. In a last section, we show the existence of a Walrasian quasiequilibrium under a weak non-satiation condition which differs from the weak non-satiation assumption introduced by Allouch-Le Van (2009). This result, designed for exchange economies whose consumers' utility functions are not assumed to be upper semicontinuous, complements the one obtained by Martins-da-Rocha and Monteiro (2009).
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Date of creation: May 2011
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Exchange economy; satiation; equilibrium with dividends; rejective core; fuzzy rejective core; core equivalence.;
Other versions of this item:
- Nizar Allouch & Monique Florenzano, 2011. "Satiated economies with unbounded consumption sets: fuzzy core and equilibrium," Documents de travail du Centre d'Economie de la Sorbonne, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne 11035, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
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- Martins-da-Rocha, V. Filipe & Monteiro, Paulo K., 2009.
"Unbounded exchange economies with satiation: How far can we go?,"
Journal of Mathematical Economics,
Elsevier, vol. 45(7-8), pages 465-478, July.
- Martins-da-Rocha, Victor Filipe & Monteiro, Paulo Klinger, 2007. "Unbounded exchange economies with satiation: how far can we go?," Economics Working Papers (Ensaios Economicos da EPGE) 646, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
- Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Discussion Paper, Tilburg University, Center for Economic Research 1998-80, Tilburg University, Center for Economic Research.
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