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Market economies with many commodities

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Abstract

In this survey problems from the consideration of infinite dimensional commodity spaces in the Arrow-Debreu-McKenzie model are discussed. It has become clear in the last couple of decades that in order to address real policy questions, economic models that are both stochastic and dynamic have to be employed. These models lead naturally to infinite dimensional commodity spaces.

Riassunto

In questo lavoro si discutono i problemi che si presentano quando, in connessione all'esistenza e all'efficienza di equilibri Walrasiani nel modello di Arrow-Debreu-McKenzie, si ammette che lo spazio dei beni sia di dimensione non finita. È diventato chiaro nei due ultimi decenni che per affrontare questioni reali è necessario usare modelli sia dinamici che stocastici e ciò conduce in modo naturale alla considerazione di spazi infinito-dimensionali. Si rimane principalmente confinati alle economie di puro scambio al solo scopo di semplificare la trattazione.

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Authors and Affiliations

  1. Departments of Mathematics and Economics, IUPUI, Indianapolis, USA

    Charalambos D. Aliprantis

  2. Division of the Humanities and Social Sciences, Caltech, Pasadena, USA

    Kim C. Border

  3. Department of Mathematics, IUPUI, Indianapolis, USA

    Owen Burkinshaw

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Aliprantis, C.D., Border, K.C. & Burkinshaw, O. Market economies with many commodities. Rivista di Matematica per le Scienze Economiche e Sociali 19, 113–185 (1996). https://doi.org/10.1007/BF02441265

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