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Existence of Equilibrium in Incomplete Markets with Non-Ordered Preferences


  • Erkan Yalcin

    () (University of New England)

  • Duygu Yengin

    () (School of Economics, University of Adelaide)


In this paper we extend the results of recent studies on the existence of equilibrium in finite dimensional asset markets for both bounded and unbounded economies. We do not assume that the individual's preferences are complete or transitive. Our existence theorems for asset markets allow for short selling. We shall also show that the equilibrium achieves a constrained core within the same framework.

Suggested Citation

  • Erkan Yalcin & Duygu Yengin, 2010. "Existence of Equilibrium in Incomplete Markets with Non-Ordered Preferences," School of Economics Working Papers 2010-25, University of Adelaide, School of Economics.
  • Handle: RePEc:adl:wpaper:2010-25

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    References listed on IDEAS

    1. Le Van, C. & Page, F.H.Jr. & Wooders, M., 2001. "Arbitrage and Equilibrium in Economies with Externalities," The Warwick Economics Research Paper Series (TWERPS) 588, University of Warwick, Department of Economics.
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    Incomplete Preferences; Intransitive Preferences; Incomplete Markets; General Equilibrium; Constrained Core; Convex Analysis;

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