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Norihisa Sato |
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''Some sufficient conditions for the existence of a competitive equilibrium in economies with satiated consumers'' |
( 2008, Vol. 3 No.73 ) |
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It is well known that a competitive equilibrium may fail to exist when consumers' preferences are possibly satiated. In this paper, we provide three new sufficient conditions for the existence of a competitive equilibrium in the standard Arrow-Debreu pure exchange economy with satiated consumers. We first consider a condition that restricts the behavior of the excess demand correspondence on the boundary of a certain subset of the price domain. Another two sufficient conditions are obtained by using the existence result under this condition. |
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Keywords: satiation |
JEL: C6 - Mathematical Methods and Programming: General D5 - General Equilibrium and Disequilibrium: General |
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Manuscript Received : Oct 02 2008 | | Manuscript Accepted : Nov 04 2008 |
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