IDEAS home Printed from https://ideas.repec.org/p/cwl/cwldpp/578.html
   My bibliography  Save this paper

Core Theory with Strongly Convex Preferences

Author

Listed:
  • Robert M. Anderson

    (Princeton University)

Abstract

We consider economies with preferences drawn from a very general class of strongly convex preferences, closely related to the class of convex (but intransitive and incomplete) preferences for which Mas-Colell proved the existence of competitive equilibria [13]. We prove a strong core limit theorem for sequences of such economies with a mild assumption on endowments (the largest endowment is small compared to the total endowment) and a uniform convexity condition. The results extend corresponding results in Hildenbrand's book [8]. The proof, which is based on our earlier result for economies with more general preferences [2], is elementary.

Suggested Citation

  • Robert M. Anderson, 1981. "Core Theory with Strongly Convex Preferences," Cowles Foundation Discussion Papers 578, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:578
    as

    Download full text from publisher

    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d05/d0578.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Debreu, Gerard, 1972. "Smooth Preferences," Econometrica, Econometric Society, vol. 40(4), pages 603-615, July.
    2. Dierker, Egbert, 1975. "Gains and losses at core allocations," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 119-128.
    3. Brown, Donald J. & Robinson, Abraham, 1974. "The cores of large standard exchange economies," Journal of Economic Theory, Elsevier, vol. 9(3), pages 245-254, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hervés-Beloso, Carlos & Moreno-García, Emma, 2009. "Walrasian analysis via two-player games," Games and Economic Behavior, Elsevier, vol. 65(1), pages 220-233, January.
    2. Hara, C., 2004. "Existence of Equilibria and Core Convergence in Economies with Bads," Cambridge Working Papers in Economics 0413, Faculty of Economics, University of Cambridge.
    3. Anderson, Robert M., 2010. "Core allocations and small income transfers," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 373-381, July.
    4. Charalambos Aliprantis & Kim Border & Owen Burkinshaw, 1996. "Market economies with many commodities," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 19(1), pages 113-185, March.
    5. Alejandro Manelli, 1990. "Core Convergence Without Monotone Preferences or Free Disposal," Discussion Papers 891, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anderson, Robert M., 2010. "Core allocations and small income transfers," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 373-381, July.
    2. Alejandro Manelli, 1990. "Core Convergence Without Monotone Preferences or Free Disposal," Discussion Papers 891, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    3. Bernard Dumas & Andrew Lyasoff, 2012. "Incomplete-Market Equilibria Solved Recursively on an Event Tree," Journal of Finance, American Finance Association, vol. 67(5), pages 1897-1941, October.
    4. Sergio Turner, 2004. "Pareto Improving Taxation in Incomplete Markets," Econometric Society 2004 Latin American Meetings 310, Econometric Society.
    5. Claudio Mattalia, 2003. "Existence of solutions and asset pricing bubbles in general equilibrium models," ICER Working Papers - Applied Mathematics Series 02-2003, ICER - International Centre for Economic Research.
    6. Rui Pascoa, Mario & Ribeiro da Costa Werlang, Sergio, 1999. "Determinacy of equilibria in nonsmooth economies," Journal of Mathematical Economics, Elsevier, vol. 32(3), pages 289-302, November.
    7. Lauwers, Luc, 2000. "Topological social choice," Mathematical Social Sciences, Elsevier, vol. 40(1), pages 1-39, July.
    8. Berliant, Marcus & Yu, Chia-Ming, 2013. "Rational expectations in urban economics," Regional Science and Urban Economics, Elsevier, vol. 43(2), pages 197-208.
    9. Sergio Turner & Norovsambuu Tumennasan, 2006. "Pareto Improving Monetary Policy in Incomplete Markets," Working Papers 2006-04, Brown University, Department of Economics.
    10. Andrea Mantovi, 2016. "Smooth preferences, symmetries and expansion vector fields," Journal of Economics, Springer, vol. 119(2), pages 147-169, October.
    11. Tirelli, Mario & Turner, Sergio, 2010. "A social welfare function characterizing competitive equilibria of incomplete financial markets," Research in Economics, Elsevier, vol. 64(1), pages 58-65, March.
    12. Michel Le Breton & John A. Weymark, 2002. "Social choice with analytic preferences," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(3), pages 637-657.
    13. Monteiro, Paulo Klinger & Pascoa, Mario Rui & da Costa Werlang, Sergio Ribeiro, 1996. "On the differentiability of the consumer demand function," Journal of Mathematical Economics, Elsevier, vol. 25(2), pages 247-261.
    14. Stahn, Hubert, 1998. "On monopolistic equilibria with incomplete markets: the case of an exchange economy," Journal of Mathematical Economics, Elsevier, vol. 29(1), pages 83-107, January.
    15. Kehoe, Timothy J. & Levine, David K., 1984. "Regularity in overlapping generations exchange economies," Journal of Mathematical Economics, Elsevier, vol. 13(1), pages 69-93, April.
    16. João Correia-da-Silva & Carlos Hervés-Beloso, 2014. "Irrelevance of private information in two-period economies with more goods than states of nature," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 439-455, February.
    17. Zhou, Yuqing, 1997. "Genericity Analysis on the Pseudo-Equilibrium Manifold," Journal of Economic Theory, Elsevier, vol. 73(1), pages 79-92, March.
    18. Pierre-André Chiappori & Ivar Ekeland & Felix Kübler & Heracles M. Polemarchakis, 1999. "The Identification of Preferences from Equilibrium Prices," Working Papers hal-00598229, HAL.
    19. Carvajal, Andres, 2004. "Testable restrictions on the equilibrium manifold under random preferences," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 121-143, February.
    20. Yves Balasko & Mich Tvede, 2010. "General equilibrium without utility functions: how far to go?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 45(1), pages 201-225, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cwl:cwldpp:578. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Brittany Ladd (email available below). General contact details of provider: https://edirc.repec.org/data/cowleus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.