Equilibria in a large economy with externalities, non-convex preferences and an infinite-dimensional commodity space via relaxation
By employing a saturated measure space for the set of agents, we take a convexification by randomization approach to prove the existence of competitive equilibria in a large economy with externalities and an infinite-dimensional commodity space without convex preferences. • A relaxed equilibrium existence result for a large relaxed economy • Obtaining an equilibrium for a large economy by purifying its relaxed one • Equilibrium existence results for price and consumption externalities.
Authors
- Sangjik Lee
- Hyo Seok Jang
Institutions
- Seoul National University (KR)
- Hankuk University of Foreign Studies (KR)
Publication Details
- Journal
- Economics Letters
- Published
- 2024-11-28
- DOI
- https://doi.org/10.1016/j.econlet.2024.112086
- Primary Topic
- Economic theories and models
- Type
- article
- Field-Weighted Citation Impact
- 0.00
Funders
- Hankuk University of Foreign Studies