A New Approach to the Lmit Theorem on the Core of an Economy in Vector Lattices
AbstractWe consider economies with general consumption sets in a vector lattice commodity space. We show, by adapting the techniques of Mas-Colell and Richard (8) and Richard (10), the Edgeworth equilibria can be supported as pseudo-equilibria by continuous prices. A corollary of this result is that continuous equilibrium prices support those allocations supported by discontinuous equilibrium prices. Hence, we improve and provide an alternative proof to Mas-Colell and Richard's hypothesis on the relationship between continuous and discontinuous equilibrium prices in models with a vector lattice commodity space and a vector lattice price space.
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Bibliographic InfoPaper provided by School of Economics, La Trobe University in its series Working Papers with number 1997.03.
Length: 9 pages
Date of creation: 1997
Date of revision:
Econometrics EDIRC Provider-Institution: RePEc:edi:smlatau;
Other versions of this item:
- Tourky, Rabee, 1998. "A New Approach to the Limit Theorem on the Core of an Economy in Vector Lattices," Journal of Economic Theory, Elsevier, vol. 78(2), pages 321-328, February.
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- Podczeck, Konrad, 1996. "Equilibria in vector lattices without ordered preferences or uniform properness," Journal of Mathematical Economics, Elsevier, vol. 25(4), pages 465-485.
- Aliprantis, Charalambos D. & Brown, Donald J. & Burkinshaw, Owen, 1987. "Edgeworth equilibria in production economies," Journal of Economic Theory, Elsevier, vol. 43(2), pages 252-291, December.
- Zame, William R, 1987. "Competitive Equilibria in Production Economies with an Infinite-Dimensional Commodity Space," Econometrica, Econometric Society, vol. 55(5), pages 1075-1108, September.
- Boyd, John H, III & McKenzie, Lionel W, 1993. "The Existence of Competitive Equilibrium over an Infinite Horizon with Production and General Consumption Sets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 1-20, February.
- Aliprantis, Charalambos D & Brown, Donald J & Burkinshaw, Owen, 1987.
Econometric Society, vol. 55(5), pages 1109-37, September.
- Aliprantis, Charalambos D. & Brown, D. J., 1982.
"Equilibrium in Markets with a Riesz Space of Commodities,"
427, California Institute of Technology, Division of the Humanities and Social Sciences.
- 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.
- Richard, Scott F., 1989. "A new approach to production equilibria in vector lattices," Journal of Mathematical Economics, Elsevier, vol. 18(1), pages 41-56, February.
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