Open core and quasi-equilibria with lower semi-continuous preferences

Ning Sun ()
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Ning Sun: Doctoral Program in Policy and Planning Sciences, University of Tsukuba, Tsukuba, Ibaraki 305, JAPAN

Economic Theory, 1999, vol. 13, issue 3, 735-742

Abstract: This note introduces a new concept of core - open core, using which it shows a quasi-equilibrium existence result in an economy where consumers' preference relations are assumed to be lower semi-continuous, but not necessarily to have open lower sections nor to be open valued, such as the lexicographic ordering. As an application, a competitive equilibrium existence result without non-satiation assumption is proved.

Keywords: Open; core; Quasi-equilibrium; ·; Lower; semi-continuity; ·; Existence.; · (search for similar items in EconPapers)
Date: 1999-04-15
Note: Received: October 28, 1996; revised version: November 4, 1997
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