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Existence of Walrasian equilibria with discontinuous, non-ordered, interdependent and price-dependent preferences

Author

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  • Wei He

    (The University of Iowa)

  • Nicholas C. Yannelis

    (The University of Iowa)

Abstract

We generalize the classical equilibrium existence theorems by dispensing with the assumption of continuity of preferences. Our new existence results allow us to dispense with the interiority assumption on the initial endowments. Furthermore, we allow for non-ordered, interdependent and price-dependent preferences.

Suggested Citation

  • Wei He & Nicholas C. Yannelis, 2016. "Existence of Walrasian equilibria with discontinuous, non-ordered, interdependent and price-dependent preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(3), pages 497-513, March.
    • Handle: RePEc:spr:joecth:v:61:y:2016:i:3:d:10.1007_s00199-015-0875-x
    DOI: 10.1007/s00199-015-0875-x
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    2. Aloisio Araujo & Alain Chateauneuf & Juan Pablo Gama & Rodrigo Novinski, 2018. "General Equilibrium With Uncertainty Loving Preferences," Econometrica, Econometric Society, vol. 86(5), pages 1859-1871, September.
    3. Kirtchik, Olessia & Boldyrev, Ivan, 2024. "“Rise And Fall” Of The Walrasian Program In Economics: A Social And Intellectual Dynamics Of The General Equilibrium Theory," Journal of the History of Economic Thought, Cambridge University Press, vol. 46(1), pages 1-26, March.
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    7. D. Glycopantis, 2020. "Two-person Bargaining with Lexicographic Preferences," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(1), pages 13-23, April.
    8. Bernard Cornet, 2020. "The Gale–Nikaido–Debreu lemma with discontinuous excess demand," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(2), pages 169-180, October.
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    More about this item

    Keywords

    Continuous inclusion property; Abstract economy; Existence of Walrasian equilibria;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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