Competitive equilibria in general choice spaces
type: Item
instance of: scholarly article
title: Competitive equilibria in general choice spaces
zbMATH Open document ID: 0628.90010
DOI: 10.1016/0304-4068(86)90020-0
published in: Journal of Mathematical Economics
publication date: 1986-01-01T00:00:00Z
review text: This paper primarily demonstrates the existence of Arrow-Debreu equilibria in a general class of topological vector spaces of commodity bundles. Two conditions based on production possibilities, preferences, and the topological nature of bounded sets are shown to substitute, in any locally convex space, for the advantages of the Euclidean topology. Examples fulfilling these conditions are supplied. The approach is that of Bewley, demonstrating equilibria on finite dimensional sub-economies and establishing a net of these equilibria that converges to an equilibrium on the whole commodity space. An example of equilibrium with a storage technology is given. An auxiliary result concerns the price support of efficient allocations.
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 4022976
zbMATH Keywords: existence of Arrow-Debreu equilibria
zbMATH Keywords: topological vector spaces of commodity bundles
zbMATH Keywords: storage technology
zbMATH Keywords: efficient allocations
author: Darrell Duffie
MaRDI profile type: Publication
full work available at URL: 0304-4068(86)90020-0
OpenAlex ID: W2010243252
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description: scientific article; zbMATH DE number 4022976