Accession Number : AD0637704
Title : COMPETITIVE EQUILIBRIA IN MARKETS WITH A CONTINUUM OF TRADERS AND INCOMPLETE PREFERENCES.
Descriptive Note : Research memo.
Corporate Author : HEBREW UNIV JERUSALEM (ISRAEL) DEPT OF MATHEMATICS
Personal Author(s) : Schmeidler,David
Report Date : JUN 1966
Pagination or Media Count : 17
Abstract : It is shown that a market with a continuum of traders possesses a competitive equilibrium even when the preferences are not complete. This generalizes further a result of Aumann, ('Econometrica'; 32: 39-50 (1964); 34: 1-17(1966)) who showed that the convexity assumption may be dispensed within the presence of a continuum of traders. The proof is inspired by the Arrow-Debreu ('Econometrica; 22: 265-290(1954)) proof for the finite case. (Author)
Descriptors : (*ECONOMICS, *GAME THEORY), STABILITY, COMMERCE, THEOREMS, ISRAEL
Subject Categories : Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE