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Edgeworth rejective core and dividends equilibria of satiated exchange economies

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  • Allouch, Nizar
  • Florenzano, Monique

Abstract

For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the Edgeworth rejective core. Then, via Konovalov (1998, 2005)’s decentralization result, we solve the equilibrium with dividends existence problem. Adding to the same assumptions a weak non-satiation condition which differs from the weak non-satiation assumption introduced by Allouch and Le Van (2009), we show in the last section the existence of a Walrasian quasiequilibrium. This result, which fits with exchange economies whose consumers’ utility functions are not assumed to be upper semicontinuous, complements the one obtained by Martins-da-Rocha and Monteiro (2009).

Suggested Citation

  • Allouch, Nizar & Florenzano, Monique, 2013. "Edgeworth rejective core and dividends equilibria of satiated exchange economies," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 1-6.
    • Handle: RePEc:eee:mateco:v:49:y:2013:i:1:p:1-6
    DOI: 10.1016/j.jmateco.2012.08.008
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    References listed on IDEAS

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    1. Garcia-Cutrin, Javier & Herves-Beloso, Carlos, 1993. "A Discrete Approach to Continuum Economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(3), pages 577-583, July.
    2. 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.
    3. Allouch, Nizar & Le Van, Cuong, 2009. "Erratum to "Walras and dividends equilibrium with possibly satiated consumers"," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 320-328, March.
    4. Le Van, Cuong & Minh, Nguyen Ba, 2007. "No-arbitrage condition and existence of equilibrium with dividends," Journal of Mathematical Economics, Elsevier, vol. 43(2), pages 135-152, February.
    5. Martins-da-Rocha, V. Filipe & Monteiro, Paulo K., 2009. "Unbounded exchange economies with satiation: How far can we go?," Journal of Mathematical Economics, Elsevier, vol. 45(7-8), pages 465-478, July.
    6. Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Discussion Paper 1998-80, Tilburg University, Center for Economic Research.
    7. Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Other publications TiSEM bde29dd4-b328-48b4-8fb4-6, Tilburg University, School of Economics and Management.
    8. Nizar Allouch & Monique Florenzano, 2004. "Edgeworth and Walras equilibria of an arbitrage-free exchange economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 23(2), pages 353-370, January.
    9. Alexander Konovalov, 2005. "The core of an economy with satiation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(3), pages 711-719, April.
    10. Allouch, Nizar & Le Van, Cuong, 2008. "Walras and dividends equilibrium with possibly satiated consumers," Journal of Mathematical Economics, Elsevier, vol. 44(9-10), pages 907-918, September.
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    Cited by:

    1. Hiromi Murakami & Ken Urai, 2017. "Replica core limit theorem for economies with satiation," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(2), pages 259-270, October.
    2. Ken Urai & Hiromi Murakami & Takahiro Moriya, 2022. "Existence of Monetary Equilibrium for Overlapping Generations Economies with Satiated Agents," Discussion Papers in Economics and Business 22-03, Osaka University, Graduate School of Economics.

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