Equilibria and core of large economies |
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Authors: | Hildegard Dierker |
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Affiliation: | University of Bonn, Bonn, Germany |
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Abstract: | In this paper we apply results on regular economies to study equilibria and core in a non-differentiable framework. We show that the distributions of agents' characteristics of regular economies form a dense subset of all distributions of agents' characteristics. Therefore ‘most’ economies have equilibria which are contained in finitely many ?-balls. And the core of ‘most’ sufficiently large economies is contained in finitely many ?-balls centered at equilibrium allocations of these economies. |
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