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On the existence of Walras equilibrium in irreducible economies with satiable and non-ordered preferences

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  • Miyazaki, Kentaro
  • Takekuma, Shin-Ichi
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    Abstract

    Irreducible exchange economies in which consumers’ preferences are satiable and non-ordered are considered. A general existence theorem of dividend quasi-equilibrium is proved and by the theorem the existence of Walras equilibrium is proved under weak assumptions of non-satiation.

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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/23217/1/070econDP12-05.pdf
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    Bibliographic Info

    Paper provided by Graduate School of Economics, Hitotsubashi University in its series Discussion Papers with number 2012-05.

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    Length: 24 p.
    Date of creation: Sep 2012
    Date of revision:
    Handle: RePEc:hit:econdp:2012-05

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    Related research

    Keywords: dividend equilibrium; Walras equilibrium; irreducibility; satiation;

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    1. Nizar Allouch & Cuong Le Van, 2006. "Walras and Dividends Equilibrium with Possibly Satiated Consumers," Working Papers 555, Queen Mary, University of London, School of Economics and Finance.
    2. Kajii, Atsushi, 1996. "How to discard non-satiation and free-disposal with paper money," Journal of Mathematical Economics, Elsevier, vol. 25(1), pages 75-84.
    3. Shafer, Wayne J., 1976. "Equilibrium in economies without ordered preferences or free disposal," Journal of Mathematical Economics, Elsevier, vol. 3(2), pages 135-137, July.
    4. Won, Dong Chul & Yannelis, Nicholas C., 2011. "Equilibrium theory with satiable and non-ordered preferences," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 245-250, March.
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