Summary. In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this result and its proof do not depend on the dimension or the particular structure of the commodity space. In a second part of the paper, we give conditions under which Edgeworth allocations can be decentralized by continuous prices in a finite dimensional and in an infinite dimensional setting. We then show how these results apply to some finance models. ABSTRACT FROM AUTHOR Copyright of Economic Theory is the property of Springer Science & Business Media B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract
%0 Journal Article
%1 1222197520040201
%A Allouch, Nizar
%A Florenzano, Monique
%D 20040201
%J Economic Theory
%K CONSUMPTION (Economics), ECONOMETRICS, ECONOMICS, EQUILIBRIUM FREE enterprise, Arbitrage-free asset markets, Individually rational utility set, Edgeworth equilibria, Fuzzy coalitions, core, Walras quasiequilibria, Properness of preferences.
%N 2
%P p353 - 370
%T Edgeworth and Walras equilibria of an arbitrage-free exchange economy.
%U http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=12221975&site=ehost-live
%V 23
%X Summary. In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this result and its proof do not depend on the dimension or the particular structure of the commodity space. In a second part of the paper, we give conditions under which Edgeworth allocations can be decentralized by continuous prices in a finite dimensional and in an infinite dimensional setting. We then show how these results apply to some finance models. ABSTRACT FROM AUTHOR Copyright of Economic Theory is the property of Springer Science & Business Media B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract
@article{1222197520040201,
abstract = {Summary. In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this result and its proof do not depend on the dimension or the particular structure of the commodity space. In a second part of the paper, we give conditions under which Edgeworth allocations can be decentralized by continuous prices in a finite dimensional and in an infinite dimensional setting. We then show how these results apply to some finance models. ABSTRACT FROM AUTHOR Copyright of Economic Theory is the property of Springer Science & Business Media B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract},
added-at = {2008-03-14T11:56:09.000+0100},
author = {Allouch, Nizar and Florenzano, Monique},
biburl = {https://www.bibsonomy.org/bibtex/2a19d02f41483ff978116964cff8891fb/daniel},
interhash = {b667b71557741137ff0d857cbe8efca4},
intrahash = {a19d02f41483ff978116964cff8891fb},
journal = {Economic Theory},
keywords = {CONSUMPTION (Economics), ECONOMETRICS, ECONOMICS, EQUILIBRIUM FREE enterprise, Arbitrage-free asset markets, Individually rational utility set, Edgeworth equilibria, Fuzzy coalitions, core, Walras quasiequilibria, Properness of preferences.},
number = 2,
pages = {p353 - 370},
timestamp = {2008-03-14T11:56:09.000+0100},
title = {Edgeworth and Walras equilibria of an arbitrage-free exchange economy.},
url = {http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=12221975&site=ehost-live},
volume = 23,
year = 20040201
}