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Identifier to cite or link to this item: https://doi.org/10.15057/26020
Identifier to cite or link to this item: https://hdl.handle.net/10086/26020

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Title
COMPETITIVE EQUILIBRIUM WITH AN ATOMLESS MEASURE SPACE OF AGENTS AND INFINITE DIMENSIONAL COMMODITY SPACES WITHOUT CONVEX AND COMPLETE PREFERENCES
Creator
Creator Name
LEE, SANGJIK LEE, SANGJIK
Affiliation
Affiliation Name
Hankuk University of Foreign Studies
Key Word
convexifying effect
saturated probability space
the Gale-Nikaido-Debreu lemma
JEL
C62
D51
Abstract
We prove the existence of a competitive equilibrium for an economy with an atomless measure space of agents and an infinite dimensional commodity space. The commodity space is a separable Banach space with a non-empty interior in its positive cone. We dispense with convexity and completeness assumptions on preferences. We employ a saturated probability space for the space of agents which enables us to utilize the convexifying effect on aggregation. By applying the Gale-Nikaido-Debreulemma, we provide a direct proof of the existence of a competitive equilibrium.
Publisher
Hitotsubashi University
Issued Date
2013-12
Language
English(eng)
Resource Type
departmental bulletin paper
Version Type
VoR
selfDOI
10.15057/26020
ISSN
0018-280x
NCID
AA00207547
Source Title
Hitotsubashi Journal of Economics
Volume Number
54
Issue Number
2
Page Start
221
Page End
230
Appears in Collections
Vol. 54, no. 2 (Dec. 2013)
URL
https://hdl.handle.net/10086/26020