Equilibria in a large economy with externalities, non-convex preferences and an infinite-dimensional commodity space via relaxation

Hyo Seok Jang and Sangjik Lee

Economics Letters, 2025, vol. 246, issue C

Abstract: By employing a saturated measure space for the set of agents, we take a convexification by randomization approach to prove the existence of competitive equilibria in a large economy with externalities and an infinite-dimensional commodity space without convex preferences.

Keywords: Separable Banach space; Saturated measure space; Externalities; Purification principle; Relaxed equilibrium (search for similar items in EconPapers)
JEL-codes: C62 D51 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:246:y:2025:i:c:s0165176524005706

DOI: 10.1016/j.econlet.2024.112086

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