Existence of equilibrium for economies with infinitely many commodities and infinitely countable consumers |
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Authors: | Wang Yiming Shou Jilin |
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Affiliation: | (1) School of Economics, Beijing University, 100871 Beijing, China;(2) Department of Applied Mathematics, Xi’an Jiaotong University, 710049 Xi’an, China |
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Abstract: | This paper examines the existence of equilibria for double infinite eonomies. S.F. Richard and S. Srivastava have established the existence of equilibria for economies with infinitely countable consumers when commodity space isL ∞ (M, M, μ). However, most Banach Lattices as commodity spaces haven’t interior points in their positive cones, so their result can’t be applied to many cases. We here consider a general Banach Lattice as commodity space and introduce a concept of equiproperness on preferences. Under the assumption the existence of equilibrium for economy is established. Finally, we examine the existence of equilibria for production economies. |
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Keywords: | Edgeworth equilibrium infinitely many commodities infinitely countable consumers quasiequilibrium equiproper |
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