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- W2417704014 abstract "Whereas convexification by aggregation is a well-understood procedure in mathematical economics, convexification by randomization has largely been limited to theories of statistical decision-making, optimal control and non-cooperative games. In this paper, in the context of classical Walrasian general equilibrium theory, we offer a comprehensive treatment of {it relaxed economies} and their {it relaxed Walrasian equilibria}: our results pertain to a setting with a finite or a continuum of agents, and a continuum of commodities modeled either as an ordered separable Banach space or as an $L^infty$-space. As a substantive consequence, we demonstrate that the convexity hypothesis can be removed from the original large economy under the saturation hypothesis, and that existing results in the antecedent literature can be effortlessly recovered." @default.
- W2417704014 created "2016-06-24" @default.
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- W2417704014 date "2016-06-06" @default.
- W2417704014 modified "2023-10-18" @default.
- W2417704014 title "Relaxed Large Economies with Infinite-Dimensional Commodity Spaces: The Existence of Walrasian Equilibria" @default.
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- W2417704014 doi "https://doi.org/10.48550/arxiv.1606.01648" @default.
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