Demand continuity and equilibrium in Banach commodity spaces

• Autorzy: Anthony Horsley , A. J. Wrobel
• Języki publikacji: EN

Abstrakty

EN

Norm-to-weak* continuity of excess demand as a function of prices is proved by using our two-topology variant of Berge's Maximum Theorem. This improves significantly upon an earlier result that, with the extremely strong finite topology on the price space, is of limited interest, except as a vehicle for proving equilibrium existence. With the norm topology on the price space, our demand continuity result becomes useful in applications of equilibrium theory, especially to problems with continuous commodity spectra. Some auxiliary results are also given, including closedness of the total production set and additivity of the asymptotic cone operation. Both are needed in proving equilibrium existence by the use of the Debreu-Gale-Nikaido Lemma.

Kategorie tematyczne

• 46E30: Spaces of measurable functions ( L p -spaces, Orlicz spaces, K\"othe function spaces, Lorentz spaces, rearrangement invariant spaces, ideal spaces, etc.)
• 46B42: Banach lattices
• 91B50: General equilibrium theory

• Wydawca: Institute of Mathematics Polish Academy of Sciences
• Czasopismo: Banach Center Publications
• Rocznik: 2006
• Tom: 71
• Numer: 1
• Strony: 163-183

Daty

wydano

2006

Twórcy

autor

Anthony Horsley

• Department of Economics, London School of Economics, Houghton Street, London WC2A 2AE, United Kingdom

autor

A. J. Wrobel

• Department of Economics, London School of Economics, Houghton Street, London WC2A 2AE, United Kingdom

Identyfikatory

DOI

10.4064/bc71-0-13