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Focusing mainly on equilibrium existence results, this paper emphasizes the role of fixed point theorems in the development of general equilibrium theory, as well for its standard definition as for some of its extensions.
Persistent link: https://www.econbiz.de/10008622014
This short paper, published in Games and Economic Behavior (July 2009) "In Memoriam" of David Gale, emphasizes the seminal role played by two lemmas of David Gale in the development of the foundations of General Equilibrium Theory.
Persistent link: https://www.econbiz.de/10008622059
This short paper published in Games and Economic Behavior (July 2009) "In Memoriam" of David Gale, emphasizes the seminal role played by two lemmas of David Gale in the development of the foundations of General Equilibrium Theory.
Persistent link: https://www.econbiz.de/10008794978
Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public...
Persistent link: https://www.econbiz.de/10008795079
Focusing on their analysis of the optimal public goods provision problem, this paper follows the parallel development of equilibrium models and mechanism design after the accomodation of Samuelson's definition of collective goods to the general equilibrium framework. Both paradigms lead to the...
Persistent link: https://www.econbiz.de/10008795089
This paper studies a simple stochastic two-period general equilibrium exchange model with money, an incomplete market of nominal assets, and a competitive banking system, intermediate between consumers and a Central Bank. There is a finite number of agents, consumers and banks. Default is not...
Persistent link: https://www.econbiz.de/10008795206
Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework ans assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public...
Persistent link: https://www.econbiz.de/10008795309
Focussing on their analysis of the optimal public goods provision problem, this paper follows the parallel development of equilibrium models and mechanism design after the accommodation of Samuelson's definition of collective goods to the general equilibrium framework. Both paradigms lead to the...
Persistent link: https://www.econbiz.de/10008795434
In this paper, we propose a definition of Edgeworth equilibrium for a private ownership production economy with (possibly infinitely) many private goods and a finite number of pure public goods. We show that Edgeworth equilibria exist whatever be the dimension of the private goods space, and can...
Persistent link: https://www.econbiz.de/10008795580
In this paper, we prove a new version of the Second Welfare Theorem for economies with a finite number of agents and an infinite number of commodities, when the preference correspondences are not convex-valued and/or when the total production set is not convex. For this kind of nonconvex...
Persistent link: https://www.econbiz.de/10008795621