Existence of exact Walrasian equilibria in non convex economies

Antonio D'Agata

No 2011-47, Economics Discussion Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: The existence of an exact Walrasian equilibrium in non convex economies is still a largely unexplored issue. In this paper an existence result for exact equilibrium in non convex economies is provided by following the almost-near approach introduced by Postlewaite and Schmeidler for convex economies. More precisely, we show that for any non convex economy there is a set of perturbed economies with the same number of agents exhibiting an exact Walrasian equilibrium; moreover as the number of agents tends to infinity the perturbed economies can be chosen as much close as we like to the original one.

Keywords: exact Walrasian equilibrium; non convex economies; perturbed economies (search for similar items in EconPapers)
JEL-codes: C62 D51 (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-mic
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https://www.econstor.eu/bitstream/10419/52226/1/672639734.pdf (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:201147

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