Abstract
We present versions of the two fundamental welfare theorems of economics for exchange economies with a countable number of agents and an infinite dimensional commodity space. These results are then specialized to the overlapping generations model.
Research supported in part by NSF grant SES 88-21779
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
C.D. Aliprantis and D. J. Brown, Equilibria in markets with a Riesz space of commodities, J. Math. Econom. 11 (1983), 189–207.
C. D. Aliprantis, D. J. Brown, and O. Burkinshaw, Equilibria in exchange economies with a countable number of agents, J. Math. Anal. Appl. 142 (1989), 250–299.
C. D. Aliprantis, D. J. Brown, and O. Burkinshaw, Valuation and optimality in the overlapping generations model, Internat. Econom. Rev. 31 (1990), 275–288.
C. D. Aliprantis, D. J. Brown, and O. Burkinshaw, Existence and Optimality of Competitive Equilibria, Springer-Verlag, New York & Heidelberg, 1989.
C. D. Aliprantis and O. Burkinshaw, Locally Solid Riesz Spaces, Academic Press, New York & London, 1978.
C. D. Aliprantis and O. Burkinshaw, Positive Operators, Academic Press, New York & London, 1985.
Y. Balasko and K. Shell, The overlapping generations model I: The case of pure exchange money, J. Econom. Theory 23 (1980), 281–306.
G. Debreu, Valuation equilibrium and Pareto optimum, Proc. Nat. Acad. Sci. U.S.A. 40 (1954), 588–592.
W. A. J. Luxemburg and A. C. Zaanen, Riesz Spaces I, North-Holland, Amsterdam, 1971.
E. Malinvaud, Capital accumulation and efficient allocation of resources, Econometrica 21 (1953), 233–268.
E. Malinvaud, Efficient capital accumulation: A Corrigendum, Econometrica 30 (1962), 570–573.
A. Mas-Colell, The price equilibrium problem in topological vector lattices, Econometrica 54 (1986), 1039–1053.
A. Mas-Colell, Valuation equilibrium and Pareto optimum revisited, in: W. Hildenbrand and A. Mas-Colell Eds., Contributions to Mathematical Economics (North-Holland, New York, 1986), Chapter 17, pp. 317–331.
L. W. McKenzie, On the existence of general equilibrium for a competitive economy, Econometrica 27 (1959), 54–71.
L. W. McKenzie, The classical theorem on existence of competitive equilibria, Econometrica 49 (1981), 819–841.
B. Peleg and M. E. Yaari, Price properties of optimal consumption programmes, in: J. A. Mirrlees and N. H. Stern Eds., Models of Economic Growth (John Wiley & Sons, New York, 1970), Chapter 14, pp. 306–321.
P. A. Samuelson, An exact consumption-loan model of interest with or without the social contrivance of money, J. Political Economy 66 (1958), 467–482.
H. H. Schaefer, Banach Lattices and Positive Operators, Springer-Verlag, New York & Berlin, 1974.
C. A. Wilson, Equilibrium in dynamic models with an infinity of agents, J. Econom. Theory 24 (1981), 95–111.
N. C. Yannelis and W. R. Zame, Equilibria in Banach lattices without ordered preferences, J. Math. Econom. 15 (1986), 85–110.
A. C. Zaanen, Riesz Spaces II, North-Holland, Amsterdam, 1983.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1991 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Aliprantis, C.D., Brown, D.J., Burkinshaw, O. (1991). Valuation and Optimality in Exchange Economies with a Countable Number of Agents. In: Positive Operators, Riesz Spaces, and Economics. Studies in Economic Theory, vol 2. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-58199-1_1
Download citation
DOI: https://doi.org/10.1007/978-3-642-58199-1_1
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-63502-1
Online ISBN: 978-3-642-58199-1
eBook Packages: Springer Book Archive