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Fuzzy Rejective Core of Satiated Economies with Unbounded Consumption Sets

  • Nizar Allouch


    (Queen Mary, University of London)

  • Monique Florenzano

    (Paris School of Economics)

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

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Paper provided by Queen Mary University of London, School of Economics and Finance in its series Working Papers with number 690.

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Date of creation: Mar 2012
Date of revision:
Handle: RePEc:qmw:qmwecw:wp690
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  1. LE VAN, Cuong & BA MINH, Nguyen, 2004. "No-arbitrage condition and existence of equilibrium with dividends," CORE Discussion Papers 2004034, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Nizar Allouch & Cuong Le Van, 2008. "Walras and dividends equilibrium with possibly satiated consumers," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00101189, HAL.
  3. Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Discussion Paper 1998-80, Tilburg University, Center for Economic Research.
  4. Alexander Konovalov, 2005. "The core of an economy with satiation," Economic Theory, Springer, vol. 25(3), pages 711-719, 04.
  5. 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.
  6. Allouch, N. & Florenzano, M., 2000. "Edgeworth and Walras Equilibria of an Arbitrage-Free Exchange Economy," Papiers d'Economie Mathématique et Applications 2000.119, Université Panthéon-Sorbonne (Paris 1).
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