Non-existence of weakly Pareto optimal allocations

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• 作者：Foivos Xanthos
• 关键词：General equilibrium theory ; Infinite dimensional commodity spaces ; Pareto optimality ; Riesz decomposition property ; C62 ; D51 ; D61
• 刊名：Economic Theory Bulletin
• 出版年：2014
• 出版时间：October 2014
• 年：2014
• 卷：2
• 期：2
• 页码：137-146
• 全文大小：172 KB
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• 作者单位：Foivos Xanthos (1)
  
  1. Department of Mathematical and Statistical Sciences, University of Alberta, Edmonton, AB, T6G 2G1, Canada
  
• ISSN：2196-1093

文摘

In this paper, we improve a characterization of the Riesz decomposition property, obtained in Aliprantis et al. (J Math Econ 92:55-6, 2000). As an application of this result, we show that the existence of weakly Pareto optimal allocations in some economic models is equivalent to the finite dimensional nature of the commodity space. This result enables us to give a characterization of infinite dimensional \(C(K)\) spaces in terms of general equilibrium theory.