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Arbitrage, Equilibrium, and Nonsatiation
Allouch, Nizar; Van, Cuong Le; Frank H. Page, Jr. - School of Economics and Finance, Queen Mary - 2004
local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded … admit existence without local or global nonsatiation? This question is the focus of our paper. We make two main … considerably weaker than local or global nonsatiation - that makes possible this transformation. Moreover, as we show via examples …
Persistent link: https://www.econbiz.de/10005106325
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Walras and Dividends Equilibrium with Possibly Satiated Consumers
Allouch, Nizar; Van, Cuong Le - School of Economics and Finance, Queen Mary - 2006
The main contribution of the paper is to provide a weaker non-satiation assumption than the one commonly used in the literature to ensure the existence of competitive equilibrium. Our assumption allows for satiation points inside the set of individually feasible consumptions, provided that the...
Persistent link: https://www.econbiz.de/10005106441