The Marginal Pricing Rule in Economies with Infinitely Many Commodities

Jean-Marc BONNISSEAU ()

No 262, Econometric Society World Congress 2000 Contributed Papers from Econometric Society

Abstract: In this paper, we consider an economy with infinitely many commodities and non-convex production sets. We propose a definition of the marginal pricing rule which allows us to encompass the case of smooth and convex production sets. We also show the link with the definition used in a finite dimensional setting where the marginal pricing rule is defined by means of the Clarke's normal cone. We prove the existence of a marginal pricing equilibrium under assumptions similar to the one given for an economy with a finite set of commodities.

Date: Written 2000-08-01
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Related works:
Working Paper: The Marginal Pricing Rule in Economies with Infinitely Many Commodities (2000)
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