Limited arbitrage is necessary and sufficient for the existence of a competitive equilibrium and the core, and limits voting cycles

DOI10.1016/0165-1765(94)90152-XzbMath0814.90006MaRDI QIDQ5906666

Graciela Chichilnisky

Publication date: 12 January 1995

Published in: Economics Letters (Search for Journal in Brave)

zbMATH Keywords

Arrow-Debreu equilibriumArrow's impossibility theoremCondorcet cycleslimited arbitrageexistence of the coretheory of competitive markets

Mathematics Subject Classification ID

General equilibrium theory (91B50) Social choice (91B14)

Related Items (4)

The partnered core of an economy and the partnered competitive equilibrium ⋮ A necessary and sufficient condition for the compactness of individually rational and feasible outcomes and the existence of an equilibrium ⋮ Limited arbitrage is necessary and sufficient for the non-emptiness of the core ⋮ MARKETS AND GAMES: A SIMPLE EQUIVALENCE AMONG THE CORE, EQUILIBRIUM AND LIMITED ARBITRAGE

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