Satiated economies with unbounded consumption sets: fuzzy core and equilibrium
AbstractFor an exchange economy, under assumptions which did not bring about the existence of quasi equilibrium 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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Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 11035.
Length: 11 pages
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," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00598038, HAL.
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
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- 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).
- 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.
- Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Discussion Paper 1998-80, Tilburg University, Center for Economic Research.
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