Journal ArticleDOI
Equilibria in vector lattices without ordered preferences or uniform properness
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In this paper, it was shown that the uniformity requirement in the properness assumption made by Mas-Colell and Richard can be weakened and, as a consequence of properness, an equilibrium allocation which is supported by a discontinuous prices can also be supported by continuous prices.About:
This article is published in Journal of Mathematical Economics.The article was published on 1996-01-01. It has received 52 citations till now.read more
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Book ChapterDOI
Set-valued optimization in welfare economics
TL;DR: In this paper, a variational approach has been developed to obtain new necessary conditions for various types of local optimal solutions to constrained multiobjective problems and to derive from them new versions of the second welfare theorem applied to Pareto as well as weak, strict, and strong optimal allocations of nonconvex economies under certain qualification conditions developed in the paper.
Journal ArticleDOI
A Theory of Value with Non-linear Prices: Equilibrium Analysis beyond Vector Lattices☆
TL;DR: This paper presents a new theory of value with a personalized pricing system that naturally induces a family of non-linear prices and provides a value- based characterization of Pareto optimality and Edgeworth equilibrium where the Walrasian linear price-based characterization fails.
Journal ArticleDOI
Equilibrium Theory with Asymmetric Information and with Infinitely many Commodities
TL;DR: This work establishes results on equilibrium existence for exchange economies with asymmetric (differential) information and with an infinite dimensional commodity space and brings the level of asymmetric information equilibrium theory at par with that of the deterministic one.
Journal ArticleDOI
A New Approach to the Limit Theorem on the Core of an Economy in Vector Lattices
TL;DR: In this paper, the authors consider pure trade economies in a vector lattice commodity space with a lattice ordered price space and obtain the required decentralizing continuous price as the supremum of tangent functionals that support the sets of preferred net trades.
Journal ArticleDOI
General equilibrium analysis in ordered topological vector spaces
TL;DR: In this article, the second welfare theorem and the core-equivalence theorem have been proved to be fundamental tools for obtaining equilibrium existence theorems, especially in an infinite dimensional setting.
References
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Journal ArticleDOI
Existence of equilibria in economies with infinitely many commodities
Journal ArticleDOI
Equilibrium in abstract economies without ordered preferences
Wayne Shafer,Hugo Sonnenschein +1 more
TL;DR: In this article, the existence of equilibrium in a generalized N -person game with interdependent preferences, price-dependent preferences and preferences which may be both non-transitive and non-complete is proved.
Journal ArticleDOI
The Price Equilibrium Existence Problem in Topological Vector Lattices
Book
Existence and Optimality of Competitive Equilibria
TL;DR: The Arrow-Debreu Model and its variants have been used in this article to model a production economy with infinitely many commodities and prices, and the OLG Commodity-Price Duality.
Journal ArticleDOI
An equilibrium existence theorem without complete or transitive preferences
TL;DR: The Walrasian equilibrium existence theorem was reproved without the assumptions of complete of transitive preferences in this paper, without the assumption of complete transitive preference being complete of the preferences of the candidate preferences.