Equilibria in vector lattices without ordered preferences or uniform properness |
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Authors: | Konrad Podczeck |
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Institution: | Institut für Wirtschaftswissenschaften, Universität Wien, Hohenstaufengasse 9, A-1010 Vienna, Austria |
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Abstract: | This paper extends a result by Mas-Colell and Richard (Journal of Economic Theory, 1991, 53, 1–11) on the existence of an equilibrium for exchange economies over a vector lattice to cover non-ordered preferences. Moreover, it is shown that the uniformity requirement in the properness assumption made by these authors can be weakened. Furthermore, it is shown that, as a consequence of properness, an equilibrium allocation which is supported by a discontinuous prices can also be supported by continuous prices. |
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Keywords: | Equilibrium Vector lattice Non-ordered preferences Proper preferencesi |
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