Marginal pricing equilibrium with externalities in Riesz spaces

Jean-Marc Bonnisseau and Matías Fuentes ()
Additional contact information
Matías Fuentes: Universidad Autónoma de Madrid

Economic Theory, 2024, vol. 78, issue 1, No 1, 27 pages

Abstract: Abstract The purpose of this paper is to prove the existence of a marginal pricing economic equilibrium in presence of increasing returns and externalities in a commodity space general enough as to encompass the vast majority of economic situations. This extends the existing literature on competitive equilibria in vector lattices by incorporating market failures, and it also generalises several non-competitive existence results to a larger class of commodity spaces. The key features are a suitable definition for the marginal pricing rule and an adaptation of the properness condition.

Keywords: Riesz space; Marginal pricing rule; Non-competitive equilibrium; $$\sigma $$ σ -Locally $$\tau $$ τ -Uniform properness or Properness condition (search for similar items in EconPapers)
JEL-codes: C62 D51 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s00199-023-01524-x Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:78:y:2024:i:1:d:10.1007_s00199-023-01524-x

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

DOI: 10.1007/s00199-023-01524-x

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().