Existence of equilibria for economies with externalities and a measure space of consumers
Using Fan-Glicksberg fixed point theorem the authors prove the existence of equilibria for exchange economies, where the preferences of each agent are influenced by prices and by other agents` consumption. The existence results encompass previous results [compare for instance \textit{W. Hildenbrand}, Econometrica 38, 608--623 (1970; Zbl 0208.23203)] for the case of exchange economies and some results for reference coalitions [\textit{D. Schmeidler}, J. Stat. Phys. 7, 295--300 (1973), \textit{M. Noguchi}, J. Math. Econ. (forthcoming)]. The authors discuss carefully the assumptions for the stated main results emphasizing the role of convexity of preferences, and conclude this paper by adding E. J. Balder's counterexemple (Working paper 2003) of nonexistence of equilibria if certain convexity conditions are not satisfied.
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