Equilibrium of a production economy with noncompact attainable allocations set

Senda Ouanaies (), Jean-Marc Bonnisseau and Souhail Chebbi ()
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Senda Ouanaies: Centre d'Economie de la Sorbonne & Department of Mathematics - University El Manar Tunis
Souhail Chebbi: Department of Mathematics - King Saud University, https://centredeconomiesorbonne.univ-paris1.fr

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: In this paper, we consider a production economy with an unbounded attainable set where the consumers may have non-complete non-transitive preferences. To get the existence of an equilibrium, we provide an asymptotic property on preferences for the attainable consumptions and we use a combination of nonlinear optimization and fixed point theorem on truncated economies together with an asymptotic argument. We show that this condition holds true if the set of attainable allocations is compact or, when preferences are representable by utility functions, if the set of attainable individually rational utility levels is compact. This assumption generalizes the CPP condition of Allouch (2002) and covers the example of Page et al. (2000) when the attainable utility levels set is not compact. So we extend the previous existence results with non compact attainable sets in two ways by adding a production sector and considering general preferences

Keywords: production economy; non compact attainable allocations; quasi-equilibrium; nonlinear optimization (search for similar items in EconPapers)
Pages: 25 pages
Date: 2016-08, Revised 2017-10
New Economics Papers: this item is included in nep-gth, nep-mic and nep-upt
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ftp://mse.univ-paris1.fr/pub/mse/CES2016/16056R.pdf (application/pdf)

Related works:
Working Paper: Equilibrium of a production economy with non-compact attainable allocations set (2019)
Working Paper: Equilibrium of a production economy with non-compact attainable allocations set (2019)
Working Paper: Equilibrium of a production economy with non-compact attainable allocations set (2019)
Working Paper: Equilibrium of a production economy with noncompact attainable allocation set (2017)
Working Paper: Equilibrium of a production economy with noncompact attainable allocation set (2017)
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