Accession Number : AD0755063
Title : Competitive Equilibria with Infinitely Many Commodities (II).
Descriptive Note : Technical summary rept.,
Corporate Author : WISCONSIN UNIV MADISON MATHEMATICS RESEARCH CENTER
Personal Author(s) : Stigum,Bernt P.
Report Date : DEC 1972
Pagination or Media Count : 38
Abstract : In the paper the author studies the characteristics of competitive resource allocation in a production economy in which infinitely many commodities must be allocated. The author establishes conditions sufficient to ensure that a competitive equilibrium exists. It is shown under general conditions that a competitive equilibrium allocates resources Pareto-optimally, and that a Pareto-optimum can be sustained as a competitive equilibrium relative to an appropriate distribution of purchasing power. (Author)
Descriptors : (*ECONOMICS, MATHEMATICAL MODELS), PRODUCTION, EQUILIBRIUM(PHYSIOLOGY), TOPOLOGY, CONVERGENCE, CONVEX SETS, THEOREMS
Subject Categories : Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE