The limit theorem on the core of a production economy in vector lattices with unordered preferences
We prove Aliprantis, Brown, and Burkinshaw's (1987) theorem on the equivalence of Edgeworth production equilibria and pseudo-equilibria in a more general setting. We consider production economies with unordered preferences and general consumption sets in a vector lattice commodity space. We adapt the approach of Mas-Colell and Richard (1991) and prove our theorem by applying a separating hyperplane argument in the space of all allocations. We also generalize Podczeck's (1996) important result on the relationship between continuous and discontinuous equilibrium prices to the case of production.
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Volume (Year): 14 (1999)
Issue (Month): 1 ()
|Note:||Received: April 18, 1997; revised version: February 6, 1998|
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