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Edgeworth rejective core and dividends equilibria of satiated exchange economies

Nizar Allouch and Monique Florenzano

Journal of Mathematical Economics, 2013, vol. 49, issue 1, 1-6

Abstract: For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the Edgeworth rejective core. Then, via Konovalov (1998, 2005)’s decentralization result, we solve the equilibrium with dividends existence problem. Adding to the same assumptions a weak non-satiation condition which differs from the weak non-satiation assumption introduced by Allouch and Le Van (2009), we show in the last section the existence of a Walrasian quasiequilibrium. This result, which fits with exchange economies whose consumers’ utility functions are not assumed to be upper semicontinuous, complements the one obtained by Martins-da-Rocha and Monteiro (2009).

Keywords: Exchange economy; Satiation; Equilibrium with dividends; Rejective core; Edgeworth rejective core; Aubin rejective core; Core equivalence (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1016/j.jmateco.2012.08.008

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