Arbitrage and Equilibrium in Economies with Externalities

被引：0

作者：

Cuong Le Van

Frank H. Page

Myrna H. Wooders

机构：

[1] CNRS,Department of Finance

[2] CERMSEM,Department of Economics

[3] University of Alabama,undefined

[4] University of Warwick,undefined

来源：

Journal of Global Optimization | 2001年 / 20卷

关键词：

Arbitrage; Externalities; Recession cones; General equilibrium;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

We introduce consumption externalities into a general equilibrium model with arbitrary consumption sets. To treat the problem of existence of equilibrium, a condition of no unbounded arbitrage, extending the condition of Page (1987) and Page and Wooders (1993, 1996) is defined. It is proven that this condition is sufficient for the existence of an equilibrium and both necessary and sufficient for compactness of the set of rational allocations.

引用

页码：309 / 321

页数：12

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