Markets with Countably Many Commodities

descriptionPublicationkeyboard_double_arrow_right Article 01 Oct 1970Publisher:JSTORJournal:International Economic Review, volume 11, page 369 (issn: 0020-6598,

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Authors: Peleg, Bezalel; Yaari, Menahem E;

doi: 10.2307/2525317

Markets with Countably Many Commodities

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Abstract

Abstract : In this paper, we prove the existence of competitive equilibrium in a market with countably many commodities. By the term 'market' we mean to emphasize that we are dealing with a pure trade model, in which there is no production. Our result generalizes the existing theory of competitive equilibrium in a finite-dimensional commodity space. The significance of this generalization, we feel, is that it opens a door that could lead, eventually, to a theory of decentralized economic growth. (Author)

Keywords

Auctions, bargaining, bidding and selling, and other market models, Special types of economic equilibria

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