Equilibrium with non-convex preferences: some examples

Cuong Le Van and Ngoc-Sang Pham

MPRA Paper from University Library of Munich, Germany

Abstract: We study the existence of equilibrium when agents’ preferences may not be convex. For some specific utility functions, we provide a necessary and sufficient condition under which there exists an equilibrium. The standard approach cannot be directly applied to our examples because the demand correspondence of some agents is neither single valued nor convex valued.

Keywords: Non-convex preferences; general equilibrium. (search for similar items in EconPapers)
JEL-codes: D11 D51 (search for similar items in EconPapers)
Date: 2021-03-13
New Economics Papers: this item is included in nep-mic and nep-upt
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