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| Author: | Cherif, I. Deghdak, M. Florenzano, M. |
| Title: | Existence of equilibria in the overlapping generations model: the nontransitive case |
| Journal: | Economic Theory
1994 : VOL. 4:2, p. 217-235 |
| Index terms: | EQUILIBRIUM THEORY DYNAMIC MODELS EXCHANGE EQUILIBRIUM |
| Language: | eng |
| Abstract: | This paper investigates the existence of competitive equilibria in dynamic exchange models with countably many periods and countably many agents. At each period the commodity space can be finite or infinite dimensional. The preferences of agents are not assumed to be transitive or complete. A first equilibrium existence theorem is established under the classical assumption that there exists a finite set of non-negligible agents. In the particular case of an overlapping generations model, a second existence theorem allows simultaneously for finite-lived assets and infinite-lived assets and limits the previous assumption to infinite-lived assets. |
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