Equilibria in reflexive Banach lattices with a continuum of agents

Aloisio Araujo, V. Filipe Martins-da-Rocha and Paulo Monteiro

Economic Theory, 2004, vol. 24, issue 3, 469-492

Abstract: We consider exchange economies with a measure space of agents and for which the commodity space is a separable and reflexive Banach lattice. Under assumptions imposing uniform bounds on marginal rates of substitution, positive results on core-Walras equivalence were established in Rustichini-Yannelis [27] and Podczeck [25]. In this paper we prove that under similar assumptions on marginal rates of substitution, the set of competitive equilibria (and thus the core) is non-empty. Copyright Springer-Verlag Berlin/Heidelberg 2004

Keywords: Competitive equilibria; Continuum of agents; Reflexive Banach lattice commodity spaces; Uniform properness. (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/s00199-004-0478-4

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