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Core equivalence theorem: countably many types of agents and commodities in \(L^1(\mu)\). (English) Zbl 1218.91109
Summary: We prove a core-Walras equivalence result for a finitely additive confederate economy with commodity space \(L^{1}(\mu )\) and a measurable bounded map of extremely desirable commodities: when the map of extremely desirable commodities is simply bounded the properness of preferences is no longer equivalent to the existence of just one extremely desirable commodity as assumed in the countably additive model by A. Rustichini and N. C. Yannelis [J. Math. Econ. 20, No. 3, 307–326 (1991; Zbl 0736.90012)].

MSC:
91B50 General equilibrium theory
91B54 Special types of economic markets (including Cournot, Bertrand)
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