Discussion Paper

No. 2011-47 | November 22, 2011
Existence of Exact Walrasian Equilibria in Non Convex Economies

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.

JEL Classification

C62 D51

Cite As

Antonio D’Agata (2011). Existence of Exact Walrasian Equilibria in Non Convex Economies. Economics Discussion Papers, No 2011-47, Kiel Institute for the World Economy. http://www.economics-ejournal.org/economics/discussionpapers/2011-47

Assessment



Comments and Questions


Anonymous - Referee Report 1
January 31, 2012 - 15:49

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Anonymous - Referee Report 2
February 22, 2012 - 11:37

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Antonio D'Agata - Reply to Referee Report 1 + 2
March 07, 2012 - 09:05

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