Equilibria in reflexive Banach lattices with a continuum of agents
We consider exchange economies with a measure space of agents and for which the commodity space is a separable and reflexive Banach lattice. Under assumptions imposing uniform bounds on marginal rates of substitution, positive results on core-Walras equivalence were established in Rustichini-Yannelis  and Podczeck . In this paper we prove that under similar assumptions on marginal rates of substitution, the set of competitive equilibria (and thus the core) is non-empty.
|Date of creation:||2004|
|Date of revision:|
|Publication status:||Published in Economic Theory, 2004, Vol. 24, no. 3. pp. 469-492.Length: 23 pages|
|Contact details of provider:|| Web page: http://www.dauphine.fr/en/welcome.html|
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- Tourky, Rabee & Yannelis, Nicholas C., 2001. "Markets with Many More Agents than Commodities: Aumann's "Hidden" Assumption," Journal of Economic Theory, Elsevier, vol. 101(1), pages 189-221, November.
- Hildenbrand, Werner, 1970. "Existence of Equilibria for Economies with Production and a Measure Space of Consumers," Econometrica, Econometric Society, vol. 38(5), pages 608-23, September.
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