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Existence of Walrasian equilibria with discontinuous, non-ordered, interdependent preferences, without free disposal, and with an infinite-dimensional commodity space

Author

Listed:
  • Konrad Podczeck

    (Universität Wien)

  • Nicholas C. Yannelis

    (The University of Iowa)

Abstract

A new proof of the existence of a Walrasian equilibrium with an infinite dimensional commodity space is provided, which allows agents’ preferences to be discontinuous. The new theorems include as corollaries the existence results of Mas-Collel, Yannelis and Zame, Araujo and Monteiro, and Mas-Collel and Richard, among others.

Suggested Citation

  • Konrad Podczeck & Nicholas C. Yannelis, 2024. "Existence of Walrasian equilibria with discontinuous, non-ordered, interdependent preferences, without free disposal, and with an infinite-dimensional commodity space," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(2), pages 389-401, September.
    • Handle: RePEc:spr:joecth:v:78:y:2024:i:2:d:10.1007_s00199-024-01553-0
    DOI: 10.1007/s00199-024-01553-0
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    References listed on IDEAS

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    More about this item

    Keywords

    Continuous inclusion property; Exchange economy; Infinite-dimensional commodity space; Existence of Walrasian equilibrium;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • 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
    • D62 - Microeconomics - - Welfare Economics - - - Externalities

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