MARKETS WITH COUNTABLY MANY COMMODITIES.
HEBREW UNIV JERUSALEM (ISRAEL) DEPT OF MATHEMATICS
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In this paper, we prove the existence of competitive equilibrium in a market with countably many commodities. By the term market we mean to emphasize that we are dealing with a pure trade model, in which there is no production. Our result generalizes the existing theory of competitive equilibrium in a finite-dimensional commodity space. The significance of this generalization, we feel, is that it opens a door that could lead, eventually, to a theory of decentralized economic growth. Author
- Economics and Cost Analysis
- Operations Research