A New Approach to the Lmit Theorem on the Core of an Economy in Vector Lattices

Rabee Tourky
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Rabee Tourky: Department of Economics and Finance, La Trobe University

No 1997.03, Working Papers from School of Economics, La Trobe University

Abstract: We consider economies with general consumption sets in a vector lattice commodity space. We show, by adapting the techniques of Mas-Colell and Richard (8) and Richard (10), the Edgeworth equilibria can be supported as pseudo-equilibria by continuous prices. A corollary of this result is that continuous equilibrium prices support those allocations supported by discontinuous equilibrium prices. Hence, we improve and provide an alternative proof to Mas-Colell and Richard's hypothesis on the relationship between continuous and discontinuous equilibrium prices in models with a vector lattice commodity space and a vector lattice price space.

Keywords: Econometrics; EDIRC; Provider-Institution:; RePEc:edi:smlatau (search for similar items in EconPapers)
Pages: 9 pages
Date: 1997
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Journal Article: A New Approach to the Limit Theorem on the Core of an Economy in Vector Lattices (1998)
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