Allouch, Nizar; Van, Cuong Le; Page Jr. Frank H. - Department of Economics, University of Warwick - 2002
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 local or global nonsatiation. Werner's existence result...