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Valuation equilibrium and pareto optimum in non-convex economies

Author

Listed:
  • Jean-Marc Bonnisseau

    () (CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CORE - Center of Operation Research and Econometrics [Louvain] - UCL - Université Catholique de Louvain)

  • Bernard Cornet

    () (CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CORE - Center of Operation Research and Econometrics [Louvain] - UCL - Université Catholique de Louvain)

Abstract

In this paper, we report an extension of the second welfare theorem when both convexity and differentiability assumptions are violated. Our model allows various formalizations of the marginal rule and considers the general setting of a topological vector space of commodities.

Suggested Citation

  • Jean-Marc Bonnisseau & Bernard Cornet, 1988. "Valuation equilibrium and pareto optimum in non-convex economies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00187225, HAL.
  • Handle: RePEc:hal:cesptp:hal-00187225
    DOI: 10.1016/0304-4068(88)90012-2
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00187225
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    Citations

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    Cited by:

    1. Jean-Paul Chavas & Walter Briec, 2012. "On economic efficiency under non-convexity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 50(3), pages 671-701, August.
    2. repec:spr:masfgc:v:23:y:2018:i:4:d:10.1007_s11027-017-9748-x is not listed on IDEAS
    3. Antonio Villar, 1994. "Existence and efficiency of equilibrium in economics with increasing returns to scale: an exposition," Investigaciones Economicas, Fundación SEPI, vol. 18(2), pages 205-243, May.
    4. Yun, Kwan Koo, 1995. "The Dubovickii-Miljutin Lemma and characterizations of optimal allocations in non-smooth economies," Journal of Mathematical Economics, Elsevier, vol. 24(5), pages 435-460.
    5. Sushama Murty, 2014. "Necessary and sufficient conditions for an environmental Kuznets curve with some illustrative examples," Discussion Papers 1407, University of Exeter, Department of Economics.
    6. Jean-Marc Bonnisseau, 2000. "The Marginal Pricing Rule in Economies with Infinitely Many Commodities," Econometric Society World Congress 2000 Contributed Papers 0262, Econometric Society.
    7. Mandler, Michael, 2014. "Indecisiveness in behavioral welfare economics," Journal of Economic Behavior & Organization, Elsevier, vol. 97(C), pages 219-235.
    8. Flam, S.D. & Jourani, A., 2000. "Prices and Pareto Optima," Norway; Department of Economics, University of Bergen 0800, Department of Economics, University of Bergen.
    9. Bruno Marques & Jean Mado & Vincent Valmorin & J Velin, 2018. "Optimal Tourism Product
      [Produit Touristique Optimal]
      ," Working Papers hal-01687976, HAL.
    10. repec:eee:jetheo:v:175:y:2018:i:c:p:730-765 is not listed on IDEAS
    11. repec:sgh:gosnar:y:2011:i:9:p:23-49 is not listed on IDEAS
    12. Monique Florenzano & Pascal Gourdel & Alejandro Jofré, 2006. "Supporting weakly Pareto optimal allocations in infinite dimensional nonconvex economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(3), pages 549-564, November.
    13. repec:wsi:wsbook:6875 is not listed on IDEAS
    14. Torregrosa, Ramon. J., 2008. "Preference for Income Taxation with Several Heterogeneous Consumers," MPRA Paper 14291, University Library of Munich, Germany.
    15. Alvaro Forteza, 2015. "Political Selection with Cynical Voters," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 171(4), pages 735-750, December.
    16. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    17. Jorge Rivera C. & Francisco Martínez, 2005. "Consumption rigths: a market mechanism to redistribute wealth," Working Papers wp215, University of Chile, Department of Economics.
    18. Jorge Rivera Cayupi, 2004. "A non-convex equilibirum model when producers have many production alternatives," Estudios de Economia, University of Chile, Department of Economics, vol. 31(2 Year 20), pages 165-175, December.
    19. Brown, Donald J. & Heller, Walter P. & Starr, Ross M., 1992. "Two-part marginal cost pricing equilibria: Existence and efficiency," Journal of Economic Theory, Elsevier, vol. 57(1), pages 52-72.

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