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Satiated economies with unbounded consumption sets : fuzzy core and equilibrium

Author

Listed:
  • Nizar Allouch

    () (QMUL - Queen Mary University of London)

  • Monique Florenzano

    () (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics)

Abstract

For an exchange economy, under assumptions which did not bring about the existence of quasiequilibrium with dividends as yet, we prove the nonemptiness of the fuzzy rejective core. Then, via Konovalov (1998, 2005)'s equivalence result, we solve the equilibrium (with dividends) existence problem. In a last section, we show the existence of a Walrasian quasiequilibrium under a weak non-satiation condition which differs from the weak non-satiation assumption introduced by Allouch-Le Van (2009). This result, designed for exchange economies whose consumers' utility functions are not assumed to be upper semicontinuous, complements the one obtained by Martins-da-Rocha and Monteiro (2009).

Suggested Citation

  • Nizar Allouch & Monique Florenzano, 2011. "Satiated economies with unbounded consumption sets : fuzzy core and equilibrium," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00598038, HAL.
  • Handle: RePEc:hal:cesptp:halshs-00598038
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00598038
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    References listed on IDEAS

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    1. Martins-da-Rocha, V. Filipe & Monteiro, Paulo K., 2009. "Unbounded exchange economies with satiation: How far can we go?," Journal of Mathematical Economics, Elsevier, vol. 45(7-8), pages 465-478, July.
    2. Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Discussion Paper 1998-80, Tilburg University, Center for Economic Research.
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    Keywords

    Exchange economy; satiation; equilibrium with dividends; rejective core; fuzzy rejective core; core equivalence.; Economie d'échange; saturation; équilibre avec dividendes; coeur réjectif; coeur flou réjectif; équivalence coeur-équilibre.;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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