Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space

Autores
Fuentes, Matías Nicolás.
Año de publicación
2011
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
We prove an equilibrium existence theorem for economies with externalities, general types of non-convexities in the production sector, and infinitely many commodities. The consumption sets, the preferences of the consumers and the production possibilities are represented by set-valued mappings to take into account the external effects. The firms set their prices according to general pricing rules which are supposed to have bounded losses and may depend upon the actions of the other economic agents. The commodity space is L (M, , ) ¥ M μ , the space of essentially bounded, real-valued, measurable functions on (M,M,μ). As for our existence result, we consider the framework of Bewley (1972). However, there are four major problems in using this technique. To overcome two of these difficulties, we impose strong lower hemi-continuity assumptions upon the economies. The remaining problems are removed when finite economies are large enough. Our model encompasses previous works on the existence of general equilibria when there are externalities and non-convexities but the commodity space is finite dimensional and those on general equilibria in non-convex economies with infinitely many commodities when no external effect is taken into account.
Fil: Fuentes, Matías Nicolás, Universidad Nacional de San Martín. Centro de Investigación en Economía Teórica y Matemática Aplicada (CIETyMA); Buenos Aires, Argentina
Materia
ECONOMIC EQUILIBRIUM
COST ACCOUNTING
COMMODITIES
COMMODITIES PRICES
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
Repositorio Institucional (UNSAM)
Institución
Universidad Nacional de General San Martín
OAI Identificador
oai:ri.unsam.edu.ar:123456789/2604

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spelling Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity spaceFuentes, Matías Nicolás.ECONOMIC EQUILIBRIUMCOST ACCOUNTINGCOMMODITIESCOMMODITIES PRICESWe prove an equilibrium existence theorem for economies with externalities, general types of non-convexities in the production sector, and infinitely many commodities. The consumption sets, the preferences of the consumers and the production possibilities are represented by set-valued mappings to take into account the external effects. The firms set their prices according to general pricing rules which are supposed to have bounded losses and may depend upon the actions of the other economic agents. The commodity space is L (M, , ) ¥ M μ , the space of essentially bounded, real-valued, measurable functions on (M,M,μ). As for our existence result, we consider the framework of Bewley (1972). However, there are four major problems in using this technique. To overcome two of these difficulties, we impose strong lower hemi-continuity assumptions upon the economies. The remaining problems are removed when finite economies are large enough. Our model encompasses previous works on the existence of general equilibria when there are externalities and non-convexities but the commodity space is finite dimensional and those on general equilibria in non-convex economies with infinitely many commodities when no external effect is taken into account.Fil: Fuentes, Matías Nicolás, Universidad Nacional de San Martín. Centro de Investigación en Economía Teórica y Matemática Aplicada (CIETyMA); Buenos Aires, ArgentinaScienceDirect2011-12info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfpp. 768-776.application/pdfFuentes, M. N. (2011). Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space. Journal of mathematical economics 47(6), 768-776. Retrieved on August 26, 2024, from https://www.sciencedirect.com/science/article/abs/pii/S03044068110011940304-4068EEYN_CIETYMA_2011_0304-4068_47(6)_768-776http://ri.unsam.edu.ar/handle/123456789/2604enginfo:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/2.5/ar/Creative Commons Atribución-NoComercial-CompartirIgual 2.5 Argentina (CC BY-NC-SA 2.5)reponame:Repositorio Institucional (UNSAM)instname:Universidad Nacional de General San Martín2025-09-29T14:31:20Zoai:ri.unsam.edu.ar:123456789/2604instacron:UNSAMInstitucionalhttp://ri.unsam.edu.arUniversidad públicaNo correspondehttp://ri.unsam.edu.ar/oai/lpastran@unsam.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:s2025-09-29 14:31:22.568Repositorio Institucional (UNSAM) - Universidad Nacional de General San Martínfalse
dc.title.none.fl_str_mv Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
title Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
spellingShingle Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
Fuentes, Matías Nicolás.
ECONOMIC EQUILIBRIUM
COST ACCOUNTING
COMMODITIES
COMMODITIES PRICES
title_short Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
title_full Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
title_fullStr Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
title_full_unstemmed Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
title_sort Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space
dc.creator.none.fl_str_mv Fuentes, Matías Nicolás.
author Fuentes, Matías Nicolás.
author_facet Fuentes, Matías Nicolás.
author_role author
dc.subject.none.fl_str_mv ECONOMIC EQUILIBRIUM
COST ACCOUNTING
COMMODITIES
COMMODITIES PRICES
topic ECONOMIC EQUILIBRIUM
COST ACCOUNTING
COMMODITIES
COMMODITIES PRICES
dc.description.none.fl_txt_mv We prove an equilibrium existence theorem for economies with externalities, general types of non-convexities in the production sector, and infinitely many commodities. The consumption sets, the preferences of the consumers and the production possibilities are represented by set-valued mappings to take into account the external effects. The firms set their prices according to general pricing rules which are supposed to have bounded losses and may depend upon the actions of the other economic agents. The commodity space is L (M, , ) ¥ M μ , the space of essentially bounded, real-valued, measurable functions on (M,M,μ). As for our existence result, we consider the framework of Bewley (1972). However, there are four major problems in using this technique. To overcome two of these difficulties, we impose strong lower hemi-continuity assumptions upon the economies. The remaining problems are removed when finite economies are large enough. Our model encompasses previous works on the existence of general equilibria when there are externalities and non-convexities but the commodity space is finite dimensional and those on general equilibria in non-convex economies with infinitely many commodities when no external effect is taken into account.
Fil: Fuentes, Matías Nicolás, Universidad Nacional de San Martín. Centro de Investigación en Economía Teórica y Matemática Aplicada (CIETyMA); Buenos Aires, Argentina
description We prove an equilibrium existence theorem for economies with externalities, general types of non-convexities in the production sector, and infinitely many commodities. The consumption sets, the preferences of the consumers and the production possibilities are represented by set-valued mappings to take into account the external effects. The firms set their prices according to general pricing rules which are supposed to have bounded losses and may depend upon the actions of the other economic agents. The commodity space is L (M, , ) ¥ M μ , the space of essentially bounded, real-valued, measurable functions on (M,M,μ). As for our existence result, we consider the framework of Bewley (1972). However, there are four major problems in using this technique. To overcome two of these difficulties, we impose strong lower hemi-continuity assumptions upon the economies. The remaining problems are removed when finite economies are large enough. Our model encompasses previous works on the existence of general equilibria when there are externalities and non-convexities but the commodity space is finite dimensional and those on general equilibria in non-convex economies with infinitely many commodities when no external effect is taken into account.
publishDate 2011
dc.date.none.fl_str_mv 2011-12
dc.type.none.fl_str_mv info:eu-repo/semantics/publishedVersion
info:eu-repo/semantics/article
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
status_str publishedVersion
format article
dc.identifier.none.fl_str_mv Fuentes, M. N. (2011). Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space. Journal of mathematical economics 47(6), 768-776. Retrieved on August 26, 2024, from https://www.sciencedirect.com/science/article/abs/pii/S0304406811001194
0304-4068
EEYN_CIETYMA_2011_0304-4068_47(6)_768-776
http://ri.unsam.edu.ar/handle/123456789/2604
identifier_str_mv Fuentes, M. N. (2011). Existence of equilibria in economies with externalities and non-convexities in an infinite dimensional commodity space. Journal of mathematical economics 47(6), 768-776. Retrieved on August 26, 2024, from https://www.sciencedirect.com/science/article/abs/pii/S0304406811001194
0304-4068
EEYN_CIETYMA_2011_0304-4068_47(6)_768-776
url http://ri.unsam.edu.ar/handle/123456789/2604
dc.language.none.fl_str_mv eng
language eng
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
http://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Creative Commons Atribución-NoComercial-CompartirIgual 2.5 Argentina (CC BY-NC-SA 2.5)
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Creative Commons Atribución-NoComercial-CompartirIgual 2.5 Argentina (CC BY-NC-SA 2.5)
dc.format.none.fl_str_mv application/pdf
pp. 768-776.
application/pdf
dc.publisher.none.fl_str_mv ScienceDirect
publisher.none.fl_str_mv ScienceDirect
dc.source.none.fl_str_mv reponame:Repositorio Institucional (UNSAM)
instname:Universidad Nacional de General San Martín
reponame_str Repositorio Institucional (UNSAM)
collection Repositorio Institucional (UNSAM)
instname_str Universidad Nacional de General San Martín
repository.name.fl_str_mv Repositorio Institucional (UNSAM) - Universidad Nacional de General San Martín
repository.mail.fl_str_mv lpastran@unsam.edu.ar
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