More on equilibria in competitive markets with externalities and a continuum of agents
Equilibrium existence results are presented for competitive markets with externalities in price and consumption and a measure space of agents. These unify and extend [Balder, E.J., 2003. Existence of competitive equilibria in economies with a measure space of consumers and consumption externalities. Preprint, in press, electronically available at http://www.math.uu.nl/publications/preprints/1294.ps.gz; Balder, E.J., 2005. More about equilibrium distributions for competitive markets with externalities. Working paper, Department of Economics, University of Illinois.] and generalize the main existence results by Aumann [Aumann, R.J., 1964. Markets with a continuum of traders. Econometrica 32, 39-50], Schmeidler [Schmeidler, D., 1969. Competitive equilibria in markets with a continuum of traders and incomplete preferences. Econometrica 37, 578-585; Schmeidler, D., 1973. Equilibrium points of nonatomic games. Journal of Statististical Physics 7, 295-300.], Greenberg et al. [Greenberg, J., Shitovitz, B., Wieczorek, A., 1979. Existence of equilibria in atomless production economies with price dependent preferences. Journal of Mathematical Economics 6, 31-41.], Yamazaki [Yamazaki, A., 1978. An equilibrium existence theorem without convexity assumptions. Econometrica 46, 541-555.], Noguchi [Noguchi, M., 2005. Interdependent preferences with a continuum of agents. Working paper, Meijo University, 2001. Journal of Mathematical Economics 41, 665-686.], Cornet [Cornet, B., Topuzu, M., 2005. Existence of equilibria for economies with externalities and a measure space of consumers. Economic Theory 26, 397-421.], and Noguchi and Zame [Noguchi, M. and Zame, W.R., 2004. Equilibrium distributions with externalities. Preprint.].
References listed on IDEAS
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- Greenberg, Joseph & Shitovitz, Benyamin & Wieczorek, Andrzej, 1979. "Existence of equilibria in atomless production economies with price dependent preferences," Journal of Mathematical Economics, Elsevier, vol. 6(1), pages 31-41, March.
- Zame, William R. & Noguchi, Mitsunori, 2006. "Competitive markets with externalities," Theoretical Economics, Econometric Society, vol. 1(2), pages 143-166, June.
- Bernard Cornet & Mihaela Topuzu, 2005.
"Existence Of Equilibria For Economies With Externalities And A Measure Space Of Consumers,"
WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS
200505, University of Kansas, Department of Economics, revised Feb 2005.
- Bernard Cornet & Mihaela Topuzu, 2005. "Existence of equilibria for economies with externalities and a measure space of consumers," Economic Theory, Springer, vol. 26(2), pages 397-421, 08.
- Yannelis, Nicholas C. & Prabhakar, N. D., 1983. "Existence of maximal elements and equilibria in linear topological spaces," Journal of Mathematical Economics, Elsevier, vol. 12(3), pages 233-245, December.
- SCHMEIDLER, David, .
"Competitive equilibria in markets with a continuum of traders and incomplete preferences,"
CORE Discussion Papers RP
-62, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Schmeidler, David, 1969. "Competitive Equilibria in Markets with a Continuum of Traders and Incomplete Preferences," Econometrica, Econometric Society, vol. 37(4), pages 578-85, October.
- Mitsunori Noguchi & William R Zame, 2004.
"Equilibrium Distributions With Externalities,"
UCLA Economics Working Papers
837, UCLA Department of Economics.
- Yamazaki, Akira, 1978. "An Equilibrium Existence Theorem without Convexity Assumptions," Econometrica, Econometric Society, vol. 46(3), pages 541-55, May.
- Shafer, Wayne & Sonnenschein, Hugo, 1975.
"Equilibrium in abstract economies without ordered preferences,"
Journal of Mathematical Economics,
Elsevier, vol. 2(3), pages 345-348, December.
- Wayne Shafer & Hugo Sonnenschein, 1974. "Equilibrium in Abstract Economies Without Ordered Preferences," Discussion Papers 94, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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