Equilibria in large economies with differentiated commodities and non-ordered preferences

V. Filipe Martins-da-Rocha

Economic Theory, 2004, vol. 23, issue 3, 529-552

Abstract: The purpose of this paper is to provide an equilibrium existence result for economies with a measure space of agents, a finite set of producers and infinitely many differentiated commodities. The approach proposed in this paper, based on the discretization of measurable correspondences, allows us to extend the existence results in Ostroy and Zame (1994) and Podczeck (1997) to economies with a non-trivial production sector and with possibly non-ordered preferences. Moreover, our approach allows for more general consumption sets than the positive cone and following the direction introduced by Podczeck (1998), the uniform substitutability assumptions of Mas-Colell (1975), Jones (1983), and Ostroy and Zame (1994), are replaced by the weaker assumptions of uniform properness. Copyright Springer-Verlag Berlin/Heidelberg 2004

Keywords: Measure space of agents; Differentiated commodities; Non-ordered preferences; Uniform properness; Discretization of measurable correspondences. (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/s00199-003-0374-3

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