Equilibria In Infinite Dimensional Production Economies With Convexified Coalitions

Download or read book Equilibria in Infinite-Dimensional Production Economies with Convexified Coalitions written by Maria Gabriella Graziano and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper deals with a private ownership production economy assuming that the commodity space is infinite-dimensional. It is first showed that the fuzzy core allocations, a concept that goes back to J.-P. Aubin, are in a one-to-one correspondence with certain core allocations of a continuum economy suitably defined. This result is obtained under convexity of preferences and production sets and separability of the commodity space. In the case of nonconvex preferences and production sets, the set of fuzzy coalitions can be enlarged in order to obtain that every allocation of the core accordingly defined is supported by a non zero price. The proof of the equivalence result when the positive cone of the commodity space has the empty interior, is obtained under assumptions of properness for preferences relations and production sets. Keywords and Phrases: Production economy, Infinite dimensional commodity space, Fuzzy core allocation, Walras allocation.