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General Equilibrium in Economies with Infinite Dimensional Commodity Spaces: A Truncation Approach

Author

Listed:
  • Gerard van der Laan

    (Vrije Universiteit Amsterdam)

  • Cees Withagen

    (Vrije Universiteit Amsterdam and Tilburg University)

Abstract

This discussion paper resulted in a publication in the 'Journal of Economic Dynamics and Control', 2003, 27, 423-444. Mostly infinite dimensional economies can be considered limits offinite dimensional economies, in particular when we think of time orproduct differentiation. We investigate conditions under which sequences of quasi-equilibria in finite dimensional economies converge to a quasi-equilibrium in the infinite dimensional economy. It is shown that convergence indeed occurs if the usual continuity assumption concerning the preference relations for finite dimensional commodity spaces is slightly modified.

Suggested Citation

  • Gerard van der Laan & Cees Withagen, 2000. "General Equilibrium in Economies with Infinite Dimensional Commodity Spaces: A Truncation Approach," Tinbergen Institute Discussion Papers 00-023/1, Tinbergen Institute.
    • Handle: RePEc:tin:wpaper:20000023
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    References listed on IDEAS

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