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Existence of exact Walrasian equilibria in non convex economies


  • D'Agata, Antonio


The existence of an exact Walrasian equilibrium in non convex economies is still a largely unexplored issue. In this paper an existence result for exact equilibrium in non convex economies is provided by following the almost-near approach introduced by Postlewaite and Schmeidler for convex economies. More precisely, we show that for any non convex economy there is a set of perturbed economies with the same number of agents exhibiting an exact Walrasian equilibrium; moreover as the number of agents tends to infinity the perturbed economies can be chosen as much close as we like to the original one.

Suggested Citation

  • D'Agata, Antonio, 2011. "Existence of exact Walrasian equilibria in non convex economies," Economics Discussion Papers 2011-47, Kiel Institute for the World Economy (IfW).
  • Handle: RePEc:zbw:ifwedp:201147

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    References listed on IDEAS

    1. Felix Kubler & Karl Schmedders, 2005. "Approximate versus Exact Equilibria in Dynamic Economies," Econometrica, Econometric Society, vol. 73(4), pages 1205-1235, July.
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    More about this item


    exact Walrasian equilibrium; non convex economies; perturbed economies;

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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