Production equilibria in locally proper economies with unbounded and unordered consumers
We prove a theorem on the existence of general equilibrium for a production economy with unordered preferences in a topological vector lattice commodity space. Our consumption sets need not have a lower bound and the set of feasible allocations need not be topologically bounded. Furthermore, we assume that the economy is locally proper as opposed to uniformly proper. In particular, preferences satisfy a locally uniform version of Yannelis and Zame's (1986) extreme desirability condition.
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- 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.
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