Core equivalence theorem: countably many types of agents and commodities in $\vec{L}^{1}(\mu)$

Abstract  We prove a core-Walras equivalence result for a finitely additive confederate economy with commodity space L¹(μ) and a measurable bounded map of extremely desirable commodities: when the map of extremely desirable commodities is simply bounded the properness of preferences is no longer equivalent to the existence of just one extremely desirable commodity as assumed in the countably additive model by Rustichini and Yannelis. Mathematics Subject Classification: 91B50, 91B54; 28B20, 46A22, 28A25 Journal of Economic Literature Classification: D51; C02