The existence of an exact Walrasian equilibrium in non convex economies is still a largely unexplored issue. In this paper an existence result for exact equilibrium in non convex economies is provided by following the “almost-near” approach introduced by Postlewaite and Schmeidler for convex economies. More precisely, we show that for any non convex economy there is a set of “perturbed” economies with the same number of agents exhibiting an exact Walrasian equilibrium; moreover as the number of agents tends to infinity the perturbed economies can be chosen as much close as we like to the original one.

Existence of exact Walrasian equilibria in non convex economies

D'AGATA, Antonio
2011

Abstract

The existence of an exact Walrasian equilibrium in non convex economies is still a largely unexplored issue. In this paper an existence result for exact equilibrium in non convex economies is provided by following the “almost-near” approach introduced by Postlewaite and Schmeidler for convex economies. More precisely, we show that for any non convex economy there is a set of “perturbed” economies with the same number of agents exhibiting an exact Walrasian equilibrium; moreover as the number of agents tends to infinity the perturbed economies can be chosen as much close as we like to the original one.
general equilibrium; nonconvex economies ; large economies
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.11769/116935
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