Existence of Equilibria and Core Convergence in Economies with Bads

Chiaki Hara ()

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: We consider an exchange economy in which there are infinitely many consumers and some commodities are bads, that is, cause disutility to consumers. We give an example of such an economy for which there is no competitive equilibrium or its variants (quasi- or psuedo-equilibrium). We also give examples of the failure of the so called uniform integrability condition of equilibrium allocations of increasingly populous property.

Keywords: general equilibrium; bads; existence; core convergence (search for similar items in EconPapers)
JEL-codes: C62 C71 D41 D51 D61 D63 Q21 (search for similar items in EconPapers)
Pages: 38
Date: 2004-02
New Economics Papers: this item is included in nep-mic
Note: ET
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:0413

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