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Non-existence of equilibria with free elimination

  • Hans-Jürgen Salchow

    ()

    (CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - CNRS : UMR8095 - Université Paris I - Panthéon-Sorbonne)

This work is concerned in the existence problem of equilibria for economies with increasing returns to scale. The consequences of relaxing the free disposal assumption are investigated. It is sown that the free disposal assumption can not be dropped, not even relaxed to the assumption of free elimination, without risking that equilibria may fail to exist. This may give new insight to the work of Giraud (2000) and Jouini (1992), because they proved the existence of equilibria for economies without free disposal assuming the production sets to verify (even weaker forms of) free elimination.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00195903.

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Date of creation: Mar 2005
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Handle: RePEc:hal:cesptp:halshs-00195903
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00195903
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  1. Gaël Giraud, 2001. "An Algebraic Index Theorem for Non-smooth Economies," Post-Print hal-00460314, HAL.
  2. Wolfgang Härdle & Werner Hildenbrand & Michael Jerison, 1989. "Empirical Evidence on the Law of Demand," Discussion Paper Serie A 264a, University of Bonn, Germany.
  3. Bonnisseau, Jean-Marc & Cornet, Bernard, 1990. "Existence of Marginal Cost Pricing Equilibria: The Nonsmooth Case," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(3), pages 685-708, August.
  4. Jouini, Elyès, 1992. "Existence of Equilibria in Nonconvex Economies without Free Disposal," Economics Papers from University Paris Dauphine 123456789/54, Paris Dauphine University.
  5. Jouini, Elyes, 1992. "Existence of equilibria in nonconvex economies without free disposal," Economics Letters, Elsevier, vol. 38(1), pages 37-42, January.
  6. Gerard Debreu, 1961. "New Concepts and Techniques for Equilibrium Analysis," Cowles Foundation Discussion Papers 129, Cowles Foundation for Research in Economics, Yale University.
  7. Shafer, Wayne J, 1974. "The Nontransitive Consumer," Econometrica, Econometric Society, vol. 42(5), pages 913-19, September.
  8. Cornet, Bernard, 1988. "General equilibrium theory and increasing returns : Presentation," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 103-118, April.
  9. Hamano, Tadashi, 1994. "On the existence of equilibria without convexity or free disposal on production technologies," Journal of Mathematical Economics, Elsevier, vol. 23(6), pages 565-583, November.
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