General equilibrium analysis in ordered topological vector spaces
The authors consider the known second welfare theorem, which associate each Pareto optimal allocation with a price equilibrium, and the core-equivalence theorem, which gives the similar association for the Edgeworth equilibrium and core allocations. They consider exchange economies in ordered Hausdorff topological vector spaces without transitivity and monotonicity assumptions on consumer's preferences. They show that necessary and/or sufficient contitions for the above assertions can be expressed in terms of the properties of the Riesz-Kantorovich formula associated with a finite list of linear functionals of the commodity space. Illustrations of these results related to existence problems on several examples are also given.
scientific article; zbMATH DE number 2092961
scientific article