Semistrictly quasiconcave approximation and an application to general equilibrium theory

We show how to approximate, in the sense of continuous convergence, a quasiconcave function with a sequence of semistrictly quasiconcave functions. This allows extending former existence results of equilibria for pure exchange economies when the preferences of the agents allow for local points of sa...

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Bibliographic Details
Published in:	Journal of mathematical analysis and applications Vol. 428; no. 1; pp. 445 - 456
Main Authors:	Lucchetti, Roberto, Milasi, Monica
Format:	Journal Article
Language:	English
Published:	Elsevier Inc 01-08-2015
Subjects:	Equilibrium Exchange economy Free-disposal economy Quasiconcave functions Semistrictly quasiconcave functions Quasiconcave functions Exchange economy Free-disposal economy Equilibrium Semistrictly quasiconcave functions
Online Access:	Get full text
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Summary:	We show how to approximate, in the sense of continuous convergence, a quasiconcave function with a sequence of semistrictly quasiconcave functions. This allows extending former existence results of equilibria for pure exchange economies when the preferences of the agents allow for local points of satiation, and existence results of free disposal equilibria for economies with production.
ISSN:	0022-247X 1096-0813
DOI:	10.1016/j.jmaa.2015.03.019