Non-existence of weakly Pareto optimal allocations

Foivos Xanthos ()
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Foivos Xanthos: University of Alberta

Economic Theory Bulletin, 2014, vol. 2, issue 2, No 2, 137-146

Abstract: Abstract In this paper, we improve a characterization of the Riesz decomposition property, obtained in Aliprantis et al. (J Math Econ 92:55–76, 2000). As an application of this result, we show that the existence of weakly Pareto optimal allocations in some economic models is equivalent to the finite dimensional nature of the commodity space. This result enables us to give a characterization of infinite dimensional $$C(K)$$ C ( K ) spaces in terms of general equilibrium theory.

Keywords: General equilibrium theory; Infinite dimensional commodity spaces; Pareto optimality; Riesz decomposition property (search for similar items in EconPapers)
JEL-codes: C62 D51 D61 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s40505-014-0044-6

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