Quasi-equilibrium in economies with infinite dimensional commodity spaces: a truncation approach

✍ Scribed by Gerard van der Laan; Cees Withagen

• Publisher: Elsevier Science
• Year: 2003
• Tongue: English
• Weight: 165 KB
• Volume: 27
• Category: Article
• ISSN: 0165-1889
• DOI: 10.1016/s0165-1889(01)00055-0

✦ Synopsis

Mostly inÿnite dimensional economies can be considered as limits of ÿnite dimensional economies; in particular, when we think of time or product di erentiation. We investigate conditions under which sequences of quasi-equilibria in ÿnite dimensional economies converge to a quasi-equilibrium in the inÿnite dimensional economy. It is shown that convergence indeed occurs if the usual continuity assumption concerning the preference relations for ÿnite dimensional commodity spaces is slightly modiÿed.