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Non-existence of equilibria with free elimination

  • Hans-Jürgen Salchow


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 Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b05057.

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Length: 21 pages
Date of creation: Mar 2005
Date of revision:
Handle: RePEc:mse:wpsorb:b05057
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  1. Wolfgang Härdle & Werner Hildenbrand & Michael Jerison, 1989. "Empirical Evidence on the Law of Demand," Discussion Paper Serie A 264a, University of Bonn, Germany.
  2. Cornet, Bernard, 1988. "General equilibrium theory and increasing returns : Presentation," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 103-118, April.
  3. Bonnisseau, J.-M. & Cornet, B., 1988. "Existense of marginal cost pricing equilibria: the nonsmooth case," CORE Discussion Papers 1988015, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Gaël Giraud, 2001. "An Algebraic Index Theorem for Non-smooth Economies," Post-Print hal-00460314, HAL.
  5. Kamiya, Kazuya, 1988. "On the survival assumption in marginal (cost) pricing," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 261-273, April.
  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. repec:cup:cbooks:9780521265140 is not listed on IDEAS
  9. Jouini, Elyes, 1992. "Existence of equilibria in nonconvex economies without free disposal," Economics Letters, Elsevier, vol. 38(1), pages 37-42, January.
  10. 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.
  11. repec:cup:cbooks:9780521388702 is not listed on IDEAS
  12. Jouini, Elyès, 1992. "Existence of Equilibria in Nonconvex Economies without Free Disposal," Economics Papers from University Paris Dauphine 123456789/54, Paris Dauphine University.
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