Nonlinear supporting prices: The superadditive case
Assumptions on allocations and preferences sufficient to allow superadditive price support are considered for an exchange economy with a finite number of traders when the commodity space is an ordered topological vector space. The main requirements are a uniformmonotonicity assumption on preferences...
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Veröffentlicht in: | Journal of mathematical economics 1990, Vol.19 (4), p.357-367 |
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Hauptverfasser: | , |
Format: | Artikel |
Sprache: | eng |
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Online-Zugang: | Volltext |
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Zusammenfassung: | Assumptions on allocations and preferences sufficient to allow superadditive price support are considered for an exchange economy with a finite number of traders when the commodity space is an ordered topological vector space. The main requirements are a uniformmonotonicity assumption on preferences and that no permutation of the allocation among agents yields a Pareto improvement. No convexity assumption on preferences is used, the positive orthant need not have interior, while the proof is constructive. Applications to finite and infinite dimensional commodity spaces are discussed. |
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ISSN: | 0304-4068 1873-1538 |
DOI: | 10.1016/0304-4068(90)90026-6 |