Equilibria in reflexive Banach lattices with a continuum of agents (Q1762748): Difference between revisions

In the framework of large square economies the authors discuss carefully assumptions and former results with respect to core-Walras equivalence and nonemptyness of the set of competitive equilibria and give two new existence theorems for equilibria with full proofs, weakening some of the assumptions of known results (f.i. conditions with respect to bounds on the marginal rates of substitution). The existence proof is based on the discretization of the set of agents. So a limiting process becomes to be necessary. In order to realize it (and to apply a Fatou's type lemma) the positive cone in the commodity space is interestingly a Fatou's cone (similar to a Phelps cone in Convex Analysis supplemented by an integrability condition).