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.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Chichilnisky Graciela & Heal Geoffrey M., 1993. "Competitive Equilibrium in Sobolev Spaces without Bounds on Short Sales," Journal of Economic Theory, Elsevier, vol. 59(2), pages 364-384, April.
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- 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.
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- Donald J. Brown & Charalambos Aliprantis & Owen Burkinshaw, 1985.
Cowles Foundation Discussion Papers
756R, Cowles Foundation for Research in Economics, Yale University.
- 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.
- 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.
- 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.
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