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arXiv · 1304.3284

Existence and uniqueness of Arrow-Debreu equilibria with consumptions in $\mathbf{L}^0_+$

Dmitry Kramkov
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Abstract

We consider an economy where agents' consumption sets are given by the cone $\mathbf{L}^0_+$ of non-negative measurable functions and whose preferences are defined by additive utilities satisfying the Inada conditions. We extend to this setting the results in \citet{Dana:93} on the existence and uniqueness of Arrow-Debreu equilibria. In the case of existence, our conditions are necessary and sufficient.

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BibTeXRIS

Dmitry Kramkov. 2013-04-11. Existence and uniqueness of Arrow-Debreu equilibria with consumptions in $\mathbf{L}^0_+$. https://doi.org/10.1137/s0040585x97t987958

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