Existence of equilibrium for abstract economies
An existence theorem of maximal elements due to Yannelis and Prabhakar (1983) is applied to obtain an equilibrium existence theorem of a qualitative game with \(L\)-majorized preference correspondences which is in turn applied together with an ``approximation'' method to prove an equilibrium existence theorem of an abstract economy. The results generalize the corresponding results of Schafer and Sonnenschein (1975), Toussaint (1984), Yannelis and Prabhakar (1983) and hence also of Borglin and Keiding (1976) in several ways. In particular, the authors answer the question raised by Yannelis and Prabhakar (1983) in the affirmative with weaker hypotheses.
\(L\)-majorized preference correspondences
scientific article; zbMATH DE number 617311