Accession Number:

AD0755063

Title:

Competitive Equilibria with Infinitely Many Commodities (II).

Descriptive Note:

Technical summary rept.,

Corporate Author:

WISCONSIN UNIV MADISON MATHEMATICS RESEARCH CENTER

Personal Author(s):

Report Date:

1972-12-01

Pagination or Media Count:

38.0

Abstract:

In the paper the author studies the characteristics of competitive resource allocation in a production economy in which infinitely many commodities must be allocated. The author establishes conditions sufficient to ensure that a competitive equilibrium exists. It is shown under general conditions that a competitive equilibrium allocates resources Pareto-optimally, and that a Pareto-optimum can be sustained as a competitive equilibrium relative to an appropriate distribution of purchasing power. Author

Subject Categories:

  • Economics and Cost Analysis
  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE