Satiation and existence of competitive equilibrium

Norihisa Sato

Journal of Mathematical Economics, 2010, vol. 46, issue 4, 534-551

Abstract: In this paper, we introduce a new assumption concerning the (non)satiation property of preferences and establish the existence of a competitive equilibrium under it. The assumption is weaker than the standard nonsatiation assumption and "weak nonsatiation" introduced by Allouch and Le Van (2008). In particular, it allows preferences to be satiated only inside the set of individually rational feasible consumptions, while the two nonsatiation assumptions do not. It is also worth noting that just like the two nonsatiation assumptions, our new assumption depends solely on the characteristics of consumers.

Keywords: Satiation; Competitive; equilibrium; Individually; rational; feasible; consumption (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:46:y:2010:i:4:p:534-551

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