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Equilibrium with non-convex preferences: some insights

Author

Listed:
  • Cuong Le Van

    (IPAG Business School, CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Ngoc-Sang Pham

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School, EM Normandie - École de Management de Normandie = EM Normandie Business School)

Abstract

We study the existence of equilibrium when agents' preferences may not be convex. For some specific utility functions, we provide a necessary and sufficient condition under which there exists an equilibrium. The standard approach cannot be directly applied to our examples because the demand correspondence of some agents is neither single-valued nor convex-valued.

Suggested Citation

  • Cuong Le Van & Ngoc-Sang Pham, 2025. "Equilibrium with non-convex preferences: some insights," Working Papers halshs-03177843, HAL.
    • Handle: RePEc:hal:wpaper:halshs-03177843
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03177843v2
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    general equilibrium.; Non-convex preferences;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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