Production Equilibria in Vector Lattices
The general purpose of this paper is to prove quasiequilibrium existence theorems for production economies with general consumption sets in an infinite dimensional commodity space, without assuming any monotonicity of preferences or free-disposal in production. The commodity space is a vector lattice commodity space whose topological dual is a sublattice of its order dual. We formulate two kinds of properness concepts for agents' preferences and production sets, which reduce to more classical ones when the commodity space is locally convex and the consumption sets coincide with the positive cone. Assuming properness allows for extension theorems of quasiequilibrium prices obtained for the economy restricted to some order ideal of the commodity space. As an application, the existence of quasiequilibrium in the whole economy is proved without any assumption of monotonicity of preferences or free-disposal in production.
|Date of creation:||01 Aug 2000|
|Date of revision:|
|Contact details of provider:|| Phone: 1 212 998 3820|
Fax: 1 212 995 4487
Web page: http://www.econometricsociety.org/pastmeetings.asp
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Aliprantis, Charalambos D. & Brown, Donald J., 1983.
"Equilibria in markets with a Riesz space of commodities,"
Journal of Mathematical Economics,
Elsevier, vol. 11(2), pages 189-207, April.
- Aliprantis, Charalambos D. & Brown, D. J., 1982. "Equilibrium in Markets with a Riesz Space of Commodities," Working Papers 427, California Institute of Technology, Division of the Humanities and Social Sciences.
- Rabee Tourky, 1997.
"Production Equilibria in Locally proper Economies with Unbounded and Unordered Consumers,"
1997.01, School of Economics, La Trobe University.
- Tourky, Rabee, 1999. "Production equilibria in locally proper economies with unbounded and unordered consumers," Journal of Mathematical Economics, Elsevier, vol. 32(3), pages 303-315, November.
- Tourky, Rabee, 1998.
"A New Approach to the Limit Theorem on the Core of an Economy in Vector Lattices,"
Journal of Economic Theory,
Elsevier, vol. 78(2), pages 321-328, February.
- Rabee Tourky, 1997. "A New Approach to the Lmit Theorem on the Core of an Economy in Vector Lattices," Working Papers 1997.03, School of Economics, La Trobe University.
- Aliprantis, C.D. & R. & Tourky & Yannelis, N.C., 1998. "A Theory of Value With Auction Prices," Department of Economics - Working Papers Series 670, The University of Melbourne.
- Araujo, A. & Monteiro, P. K., 1989. "Equilibrium without uniform conditions," Journal of Economic Theory, Elsevier, vol. 48(2), pages 416-427, August.
- 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.
- Messaoud Deghdak & Monique Florenzano, 1999.
"Decentralizing Edgeworth equilibria in economies with many commodities,"
Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(2), pages 297-310.
- Florenzano, Monique & Deghdak, Messaoud, 1997. "Decentralizing edgeworth equilibria in economies with many commodities," CEPREMAP Working Papers (Couverture Orange) 9721, CEPREMAP.
- Duffie, Darrell & Zame, William, 1989.
"The Consumption-Based Capital Asset Pricing Model,"
Econometric Society, vol. 57(6), pages 1279-97, November.
- Boyd, John H, III & McKenzie, Lionel W, 1993. "The Existence of Competitive Equilibrium over an Infinite Horizon with Production and General Consumption Sets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(1), pages 1-20, February.
- Mas-Colell, Andreu & Zame, William R., 1991. "Equilibrium theory in infinite dimensional spaces," Handbook of Mathematical Economics, in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 34, pages 1835-1898 Elsevier.
- Podczeck, Konrad, 1996. "Equilibria in vector lattices without ordered preferences or uniform properness," Journal of Mathematical Economics, Elsevier, vol. 25(4), pages 465-485.
- Aliprantis, Charalambos D. & Brown, Donald J. & Burkinshaw, Owen, 1987. "Edgeworth equilibria in production economies," Journal of Economic Theory, Elsevier, vol. 43(2), pages 252-291, December.
- Kerry Back, 1986.
"Structure of Consumption Sets and Existence of Equilibria in Infinite Dimensional Spaces,"
633, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Back, Kerry, 1988. "Structure of consumption sets and existence of equilibria in infinite-dimensional spaces," Journal of Mathematical Economics, Elsevier, vol. 17(1), pages 89-99, February.
- Marakulin, Valeri M., 1998. "Production equilibria in vector lattices with unordered preferences : an approach using finite-dimensional approximations," CEPREMAP Working Papers (Couverture Orange) 9821, CEPREMAP.
- 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.
- Donald J. Brown & Charalambos Aliprantis & Owen Burkinshaw, 1985.
Cowles Foundation Discussion Papers
756R, Cowles Foundation for Research in Economics, Yale University.
- Jones, Larry E, 1984.
"A Competitive Model of Commodity Differentiation,"
Econometric Society, vol. 52(2), pages 507-30, March.
- Mas-Colell, Andreu, 1986. "The Price Equilibrium Existence Problem in Topological Vector Lattice s," Econometrica, Econometric Society, vol. 54(5), pages 1039-53, September.
- Mas-Colell, Andreu & Richard, Scott F., 1991. "A new approach to the existence of equilibria in vector lattices," Journal of Economic Theory, Elsevier, vol. 53(1), pages 1-11, February.
- Aliprantis, C. D. & Tourky, R. & Yannelis, N. C., 2000. "The Riesz-Kantorovich formula and general equilibrium theory," Journal of Mathematical Economics, Elsevier, vol. 34(1), pages 55-76, August.
When requesting a correction, please mention this item's handle: RePEc:ecm:wc2000:1396. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum)
If references are entirely missing, you can add them using this form.