Note on the Core-Walras Equivalence Problem when the Commodity Space is a Banach Lattice

Konrad Podczeck ()
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Konrad Podczeck: https://econ.univie.ac.at

Vienna Economics Papers from University of Vienna, Department of Economics

Abstract: The core-Walras equivalence problem for an atomless economy is considered in the commodity space setting of Banach lattices. In particular, necessary and sufficient conditions on the commodity space in order for core-Walras equivalence to hold are established. In general, these conditions can be regarded as implying that an economy with a continuum of agents has indeed "many more agents than commodities". However, it turns out that there are special commoditiy spaces in which core-Walras equivalence holds for every atomless economy satisfying certain standard assumptions, but in which an atomless economy does not have the meaning of there being "many more agents than commodities."

JEL-codes: C62 C71 D41 (search for similar items in EconPapers)
Date: 2003-03
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