Edgeworth equilibria: separable and non-separable commodity spaces
AbstractConsider a pure exchange differential information economy with an atomless measure space of agents and a Banach lattice as the commodity space. If the commodity space is separable, then it is shown that the private core coincides with the set of Walrasian expectations allocations. In the case of non-separable commodity space, a similar result is also established if the space of agents is decomposed into countably many different types.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 46796.
Date of creation: 07 May 2013
Date of revision:
Differential information economy; Extremely desirable bundle; Private core.;
Find related papers by JEL classification:
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-05-11 (All new papers)
- NEP-CTA-2013-05-11 (Contract Theory & Applications)
- NEP-MIC-2013-05-11 (Microeconomics)
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