Edgeworth rejective core and dividends equilibria of satiated exchange economies |
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Authors: | Nizar Allouch Monique Florenzano |
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Affiliation: | 1. Queen Mary University of London, School of Economics and Finance, Mile End Rd, London E1 4NS, UK;2. Paris School of Economics, CES 106–112 boulevard de l’Hôpital, 75013 Paris, France |
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Abstract: | For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the Edgeworth rejective core. Then, via and ’s decentralization result, we solve the equilibrium with dividends existence problem. Adding to the same assumptions a weak non-satiation condition which differs from the weak non-satiation assumption introduced by Allouch and Le Van (2009), we show in the last section the existence of a Walrasian quasiequilibrium. This result, which fits with exchange economies whose consumers’ utility functions are not assumed to be upper semicontinuous, complements the one obtained by Martins-da-Rocha and Monteiro (2009). |
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Keywords: | Exchange economy Satiation Equilibrium with dividends Rejective core Edgeworth rejective core Aubin rejective core Core equivalence |
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