Equilibria in infinite-dimensional production economies with convexified coalitions

Maria Graziano

Economic Theory, 2001, vol. 17, issue 1, 139 pages

Abstract: This paper deals with a private ownership production economy assuming that the commodity space is infinite-dimensional. It is first showed that the fuzzy core allocations, a concept that goes back to J.-P. Aubin, are in a one-to-one correspondence with certain core allocations of a continuum economy suitably defined. This result is obtained under convexity of preferences and production sets and separability of the commodity space. In the case of nonconvex preferences and production sets, the set of fuzzy coalitions can be enlarged in order to obtain that every allocation of the core accordingly defined is supported by a non zero price. The proof of the equivalence result when the positive cone of the commodity space has the empty interior, is obtained under assumptions of properness for preferences relations and production sets.

Keywords: Production economy; Infinite dimensional commodity space; Fuzzy core allocation; Walras allocation. (search for similar items in EconPapers)
JEL-codes: C71 D51 (search for similar items in EconPapers)
Date: 2000-11-14
Note: Received: July 9, 1998; revised version: December 6, 1999
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://link.springer.de/link/service/journals/00199/papers/1017001/10170121.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:17:y:2001:i:1:p:121-139

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().