The Marginal Pricing Rule in Economies with Infinitely Many Commodities

Jean-Marc BONNISSEAU ()

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: Clarke's normal cone appears as the right tool to define the marginal pricing rule in finite dimensional commodity space since it allows to consider in the same framework convex, smooth as well as nonsmooth nonconvex production sets. Furthermore it has nice continuity and convexity properties. But it is not well adapted for economies with infinitely many commodities since it does satisfy minimal continuity properties. In this paper, we propose an alternative definition of the marginal pricing rule.

Keywords: ECONOMIC EQUILIBRIUM; PRICING; COMMODITIES (search for similar items in EconPapers)
JEL-codes: D50 D59 (search for similar items in EconPapers)
Date: 2000
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Working Paper: The Marginal Pricing Rule in Economies with Infinitely Many Commodities (2000)
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Persistent link: http://EconPapers.repec.org/RePEc:fth:pariem:2000.47

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