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Non-existence of equilibria with free elimination

Author

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  • Hans-Jürgen Salchow

    (CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

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.

Suggested Citation

  • Hans-Jürgen Salchow, 2005. "Non-existence of equilibria with free elimination," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00195903, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00195903
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00195903v1
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    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • D62 - Microeconomics - - Welfare Economics - - - Externalities

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