haku: @author Aliprantis, C. D. / yhteensä: 2
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| Tekijä: | Aliprantis, C. D. Border, K. C. Burkinshaw, O. |
| Otsikko: | Economies with many commodities |
| Lehti: | Journal of Economic Theory
1997 : MAY, VOL. 74:1, p. 62-105 |
| Asiasana: | COMMODITIES WELFARE ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | This paper discusses the fundamentals of welfare economics in the context of the Arrow-Debreu-McKenzie model with an infinite dimensional accommodity space. In order to address real policy questions, economic models that are both dynamic and stocastic must be employed. The models lead naturally to infinite dimensional commodity spaces. This survey discusses the problems of working with infinite dimensional spaces in connection with the existence and efficiency of Walrasian equilibria in the Arrow-Debreu-McKenzie framework, primarily considering pure exchange economies. |
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