Journal article
Equilibria in Banach lattices without ordered preferences
Journal of mathematical economics, Vol.15(2), pp.85-110
01/01/1986
DOI: 10.1016/0304-4068(86)90002-9
Abstract
This paper establishes a very general result on the existence of competitive equilibria for exchange economies (with a finite number of agents) with an infinite-dimensional commodity space. The commodity spaces treated are Banach lattices, but no interiority assumptions on the positive cone are made; thus, the commodity spaces covered by this result include most of the spaces considered in economic analysis. Moreover, this result applies to preferences which may not be monotone, complete, or transitive; preferences may even be interdependent. Since preferences need not be monotone, the result allows for non-positive prices, and an exact equilibrium is obtained, rather than a free-disposal equilibrium.
Details
- Title: Subtitle
- Equilibria in Banach lattices without ordered preferences
- Creators
- Nicholas C. Yannelis - University of MinnesotaWilliam R. Zame - University at Buffalo, State University of New York
- Resource Type
- Journal article
- Publication Details
- Journal of mathematical economics, Vol.15(2), pp.85-110
- Publisher
- Elsevier B.V
- DOI
- 10.1016/0304-4068(86)90002-9
- ISSN
- 0304-4068
- eISSN
- 1873-1538
- Language
- English
- Date published
- 01/01/1986
- Academic Unit
- Economics
- Record Identifier
- 9984380482102771
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