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Satiation and existence of competitive equilibrium

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  • Sato, Norihisa

Abstract

In this paper, we introduce a new assumption concerning the (non)satiation property of preferences and establish the existence of a competitive equilibrium under it. The assumption is weaker than the standard nonsatiation assumption and "weak nonsatiation" introduced by Allouch and Le Van (2008). In particular, it allows preferences to be satiated only inside the set of individually rational feasible consumptions, while the two nonsatiation assumptions do not. It is also worth noting that just like the two nonsatiation assumptions, our new assumption depends solely on the characteristics of consumers.

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  • Sato, Norihisa, 2010. "Satiation and existence of competitive equilibrium," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 534-551, July.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:534-551
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    1. Andreu Mas-Colell, 1992. "Equilibrium Theory with Possibly Satiated Preferences," Palgrave Macmillan Books, in: Mukul Majumdar (ed.), Equilibrium and Dynamics, chapter 9, pages 201-213, Palgrave Macmillan.
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    Cited by:

    1. Jürgen Eichberger & Klaus Rheinberger & Martin Summer, 2014. "Credit risk in general equilibrium," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 57(2), pages 407-435, October.
    2. Nguyen, Van-Quy, 2021. "Endowment-regarding preferences," Journal of Mathematical Economics, Elsevier, vol. 94(C).
    3. repec:onb:oenbwp:y::i:172:b:1 is not listed on IDEAS
    4. Van Quy Nguyen, 2020. "Endowments-regarding preferences," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-02966848, HAL.
    5. Battauz, Anna & De Donno, Marzia & Ortu, Fulvio, 2011. "Intertemporal asset pricing and the marginal utility of wealth," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 227-244, March.
    6. Sato Norihisa, 2010. "Existence of Competitive Equilibrium in Unbounded Exchange Economies with Satiation: A Note," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 10(1), pages 1-22, July.
    7. Van Quy Nguyen, 2020. "Endowments-regarding preferences," Post-Print halshs-02966848, HAL.
    8. Florig, Michael & Rivera, Jorge, 2019. "Walrasian equilibrium as limit of competitive equilibria without divisible goods," Journal of Mathematical Economics, Elsevier, vol. 84(C), pages 1-8.
    9. Van Quy Nguyen, 2020. "Endowments-regarding preferences," Documents de travail du Centre d'Economie de la Sorbonne 20017, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    10. Miyazaki, Kentaro & 宮崎, 健太郎 & Takekuma, Shin-Ichi & 武隈, 愼一, 2013. "A note on the existence of Walras equilibrium in irreducible economies with satiable and non-ordered preferences," Discussion Papers 2013-14, Graduate School of Economics, Hitotsubashi University.

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