Existence of equilibria in economies with externalities and non-convexities in an infinite-dimensional commodity space

Matías N. Fuentes

Journal of Mathematical Economics, 2011, vol. 47, issue 6, 768-776

Abstract: We prove an equilibrium existence theorem for economies with externalities, general types of non-convexities in the production sector, and infinitely many commodities. The consumption sets, the preferences of the consumers, and the production possibilities are represented by set-valued mappings to take into account the external effects. The firms set their prices according to general pricing rules which are supposed to have bounded losses and may depend upon the actions of the other economic agents. The commodity space is L∞(M,M,μ), the space of all μ-essentially bounded M-measurable functions on M.

Keywords: General equilibrium; Externalities; Non-convexities; Infinitely many commodities; Set-valued mappings; Lower hemi-continuity (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:47:y:2011:i:6:p:768-776

DOI: 10.1016/j.jmateco.2011.10.007

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