Equilibria in infinite-dimensional production economies with convexified coalitions |
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Authors: | Maria Gabriella Graziano |
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Institution: | (1) Dipartimento di Organizzazione Aziendale ed Amministrazione Pubblica, Universit\' a degli Studi della Calabria, 87030 Arcavacata di Rende Cosenza, ITALY (e-mail: grazian@matnA3.dma.unina.it) , IT |
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Abstract: | Summary. 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.
Received: July 9, 1998; revised version: December 6, 1999 |
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Keywords: | and Phrases: Production economy Infinite dimensional commodity space Fuzzy core allocation Walras allocation |
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