General Equilibrium in Economies with Infinite Dimensional Commodity Spaces: A Truncation Approach

Gerard van der Laan and Cees Withagen

No 00-023/1, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: This discussion paper resulted in a publication in the 'Journal of Economic Dynamics and Control', 2003, 27, 423-444.

Mostly infinite dimensional economies can be considered limits offinite dimensional economies, in particular when we think of time orproduct differentiation. We investigate conditions under which sequences of quasi-equilibria in finite dimensional economies converge to a quasi-equilibrium in the infinite dimensional economy. It is shown that convergence indeed occurs if the usual continuity assumption concerning the preference relations for finite dimensional commodity spaces is slightly modified.

Keywords: general equilibrium; truncation; infinite dimensional commodity space (search for similar items in EconPapers)
Date: 2000-03-22
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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20000023

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