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Equilibrium in abstract economies without ordered preferences
Authors:Wayne Shafer
Institution:Wayne State University, Detroit, Mich. 48202, U.S.A.;Northwestern University, Evanston, Ill. 60201, U.S.A.
Abstract:We extend a theorem of G. Debreu on the existence of equilibrium in a generalized N-person game (‘A Social Equilibrium Existence Theorem’). Applying standard techniques the result can be used to prove the existence of equilibrium in economies with interdependent preferences, price-dependent preferences and preferences which may be both non-transitive and non-complete. This generalizes a recent theorem of A. Mas-Colell.
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