No. 690: Fuzzy Rejective Core of Satiated Economies with Unbounded Consumption Sets
March 1, 2012
For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the fuzzy rejective core. Then, via Konovalov (1998, 2005)'s equivalence result, we solve the equilibrium with dividends existence problem. Adding to the same assumptions a weak non-satiation condition which differs from the weak non-satiation assumption introduced by Allouch-Le Van (2009), we show in a last section the existence of a Walrasian quasiequilibrium. This result, which fits with exchange economies whose consumers' utility functions are not assumed to be upper semicontinuous, complements the one obtained by Martins-da-Rocha and Monteiro (2009).
J.E.L classification codes: D50
Keywords:Exchange economy, Satiation, Equilibrium with dividends, Rejective core, Fuzzy rejective core, Core equivalence