Edgeworth equilibria: separable and non-separable commodity spaces

Bhowmik, Anuj (2013): Edgeworth equilibria: separable and non-separable commodity spaces.

Abstract

Consider a pure exchange differential information economy with an atomless measure space of agents and a Banach lattice as the commodity space. If the commodity space is separable, then it is shown that the private core coincides with the set of Walrasian expectations allocations. In the case of non-separable commodity space, a similar result is also established if the space of agents is decomposed into countably many different types.

• Item Type: MPRA Paper
• Language: English
• Keywords: Differential information economy; Extremely desirable bundle; Private core.
• Subjects: D - Microeconomics > D4 - Market Structure, Pricing, and Design > D41 - Perfect Competition; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production Economies; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D82 - Asymmetric and Private Information ; Mechanism Design

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