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Arbitrage, equilibrium, and gains from trade: A counterexample

  • Monteiro, Paulo K.
  • Page, Frank Jr.
  • Wooders, Myrna Holtz

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File URL: http://www.sciencedirect.com/science/article/B6VBY-3SWSJS7-6/2/ad6ea12d545d547e5264ccb8b37ba981
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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 28 (1997)
Issue (Month): 4 (November)
Pages: 481-501

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Handle: RePEc:eee:mateco:v:28:y:1997:i:4:p:481-501
Contact details of provider: Web page: http://www.elsevier.com/locate/jmateco

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  1. Duffie, Darrell, 1986. "Competitive equilibria in general choice spaces," Journal of Mathematical Economics, Elsevier, vol. 15(1), pages 1-23, February.
  2. Hammond, Peter J., 1983. "Overlapping expectations and Hart's conditions for equilibrium in a securities model," Journal of Economic Theory, Elsevier, vol. 31(1), pages 170-175, October.
  3. CHICHILNISKY , Graciela, 1995. "A Unified Perspective on Resource Allocation : Limited Arbitrage is Necessary and Sufficient for the Existence of a Competitive Equilibrium, the Core and Social Choice," CORE Discussion Papers 1995027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Nielsen, Lars Tyge, 1989. "Asset Market Equilibrium with Short-Selling," Review of Economic Studies, Wiley Blackwell, vol. 56(3), pages 467-73, July.
  5. Chichilnisky, Graciela, 1995. "Limited Arbitrage Is Necessary and Sufficient for the Existence of a Competitive Equilibrium with or without Short Sales," Economic Theory, Springer, vol. 5(1), pages 79-108, January.
  6. Grandmont, Jean-Michel, 1977. "Temporary General Equilibrium Theory," Econometrica, Econometric Society, vol. 45(3), pages 535-72, April.
  7. Chichilnisky, Graciela, 1994. "Social Diversity, Arbitrage, and Gains from Trade: A Unified Perspective on Resource Allocation," American Economic Review, American Economic Association, vol. 84(2), pages 427-34, May.
  8. Milne, Frank, 1980. "Short-Selling, Default Risk and the Existence of Equilibrium in a Securities Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(2), pages 255-67, June.
  9. Page Jr., Frank H. & Wooders, Myrna Holtz, 1996. "A necessary and sufficient condition for the compactness of individually rational and feasible outcomes and the existence of an equilibrium," Economics Letters, Elsevier, vol. 52(2), pages 153-162, August.
  10. Chichilnisky, G., 1993. "Intersecting Families of Sets and the Topology of Cones in Economics," Papers 93-17, Columbia - Graduate School of Business.
  11. Page Jr., Frank H. & Wooders, Myrna Holtz, 1996. "The Partnered Core of an Economy and the Partnered Competitive Equilibrium," Economics Letters, Elsevier, vol. 52(2), pages 143-152, August.
  12. Werner, Jan, 1987. "Arbitrage and the Existence of Competitive Equilibrium," Econometrica, Econometric Society, vol. 55(6), pages 1403-18, November.
  13. Hart, Oliver D., 1974. "On the existence of equilibrium in a securities model," Journal of Economic Theory, Elsevier, vol. 9(3), pages 293-311, November.
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