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Title:Existence of exact Walrasian equilibria in non convex economies PDF Logo
Authors:D'Agata, Antonio
Issue Date:2011
Series/Report no.:Economics Discussion Papers 2011-47
Abstract:The existence of an exact Walrasian equilibrium in non convex economies is still a largely unexplored issue. In this paper an existence result for exact equilibrium in non convex economies is provided by following the almost-near approach introduced by Postlewaite and Schmeidler for convex economies. More precisely, we show that for any non convex economy there is a set of perturbed economies with the same number of agents exhibiting an exact Walrasian equilibrium; moreover as the number of agents tends to infinity the perturbed economies can be chosen as much close as we like to the original one.
Subjects:exact Walrasian equilibrium
non convex economies
perturbed economies
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Document Type:Working Paper
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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