The existence of an exact Walrasian equilibrium in non convex economies is still a largely unexplored issue. In this paper an existence result for exact equilibrium in non convex economies is provided by following the almost-near approach introduced by Postlewaite and Schmeidler for convex...

In an infinite-time decentralized sequence economy, agents use fiat money to bridge markets as if they make trades in a centralized economy, to avoid huge transaction cost that all agents' going together must incur. The model in this paper formulates the process how agents decide the fiat...

In this note we generalize the Negishi approach to equilibrium. We embed a standard one-period exchange economy into a two-period model, where agents' first-period utility functions can be any strictly increasing and concave functions satisfying the lower Inada condition, and prove the existence...

The existence of an exact Walrasian equilibrium in nonconvex economies is still a largely unexplored issue. This paper shows that such an equilibrium exists in nonconvex economies by following the nearby economyapproach introduced by Postlewaite and Schmeidler (Approximate Walrasian Equilibrium...

Differential information economies are investigated from the viewpoint of contract based approach, developed in series of author's papers. The key idea of the approach is to change the study of a “final” allocation of commodities with (different forms) stable webs of barter contracts which...

We prove the non-emptiness of the core of an NTU game satisfying a condition of payoff-dependent balancedness, based on transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff vectors satisfying this condition. The additional...

We prove the existence and efficiency of equilibrium in economies with infinitely many consumers in which there are finitely many agents who own a positive portion of the aggregate endowment. We prove existence for commodity spaces which are employed in the general equilibrium asset pricing...

A general and practical competitive market model for trading indivisible goods is introduced. There are a group of buyers and a group of sellers, and several indivisible goods. Each buyer is initially endowed with a sufficient amount of money and each seller is endowed with several units of each...

We prove the non-emptiness of the core of an NTU game satisfying a condition of payoff-dependent balancedness, based on transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff vectors satisfying this condition. The additional...

This paper deals with the existence of marginal pricing equilibria when it is defined by using a new and tighter normal cone introducedby B. Cornet and M.O. Czarnecki. The main interest of this new definition of the marginal pricing rule comes from the fact that it is more precise in the sense...