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The limit theorem on the core of a production economy in vector lattices with unordered preferences

  • Rabee Tourky

    (Department of Economics, University of Melbourne, Gratton Street, Parkville, Victoria 3052,Australia)

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    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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    Article provided by Springer in its journal Economic Theory.

    Volume (Year): 14 (1999)
    Issue (Month): 1 ()
    Pages: 219-226

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    Handle: RePEc:spr:joecth:v:14:y:1999:i:1:p:219-226
    Note: Received: April 18, 1997; revised version: February 6, 1998
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