Allouch, Nizar; Le Van, Cuong; Page, Frank H. - 2004
In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica …, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either … contributions to the theory of arbitrage and competitive equilibrium. First, we show that, in general, in unbounded exchange …