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Existence of equilibria in economies with externalities and non-convexities in an infinite-dimensional commodity space

  • Fuentes, Matías N.
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    We prove an equilibrium existence theorem for economies with externalities, general types of non-convexities in the production sector, and infinitely many commodities. The consumption sets, the preferences of the consumers, and the production possibilities are represented by set-valued mappings to take into account the external effects. The firms set their prices according to general pricing rules which are supposed to have bounded losses and may depend upon the actions of the other economic agents. The commodity space is L∞(M,M,μ), the space of all μ-essentially bounded M-measurable functions on M.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0304406811001194
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    Article provided by Elsevier in its journal Journal of Mathematical Economics.

    Volume (Year): 47 (2011)
    Issue (Month): 6 ()
    Pages: 768-776

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    Handle: RePEc:eee:mateco:v:47:y:2011:i:6:p:768-776
    Contact details of provider: Web page: http://www.elsevier.com/locate/jmateco

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    1. Bonnisseau, Jean-Marc & Medecin, Jean-Philippe, 2001. "Existence of marginal pricing equilibria in economies with externalities and non-convexities," Journal of Mathematical Economics, Elsevier, vol. 36(4), pages 271-294, December.
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    6. Kamiya, K., 1986. "On the survival assumption in marginal cost pricing," CORE Discussion Papers 1986038, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Richard, Scott F., 1989. "A new approach to production equilibria in vector lattices," Journal of Mathematical Economics, Elsevier, vol. 18(1), pages 41-56, February.
    8. Bewley, Truman F., 1972. "Existence of equilibria in economies with infinitely many commodities," Journal of Economic Theory, Elsevier, vol. 4(3), pages 514-540, June.
    9. Schalk, S., 1996. "General Equilibrium Model with a Convex Cone as the Set of Commodity Bundles," Research Memorandum 740, Tilburg University, School of Economics and Management.
    10. BONNISSEAU, Jean-Marc & CORNET, Bernard, . "Existence of marginal cost pricing equilibria in economies with several nonconvex firms," CORE Discussion Papers RP -941, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    11. Bonnisseau, J.-M. & Cornet, B., 1986. "Existence of equilibria when firms follow bounded losses pricing rules," CORE Discussion Papers 1986007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    12. 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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    14. Cornet, Bernard, 1988. "General equilibrium theory and increasing returns : Presentation," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 103-118, April.
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