A new approach to the limit theorem on the core of an economy in vector lattices

Article Abstract:

An extension of the theorem that the Edgeworth equilibria for exchange economies in topological vector lattices are psuedo-equilibria provides proof that the required decentralizing continuos price as the supremum of tangent functionals that support the set of preferred net trades may be obtained. The proof uses techniques developed by Mas-Colell and Richard and considers pure trade economies in a vector lattice commodity space with a lattice ordered price space.

Analysis, Vector spaces, Vectors (Mathematics), Riesz spaces, Limit theorems (Probability theory)

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Existence of equilibrium in Bayesian games with infinitely many players

Article Abstract:

An information partition strategy was employed to confirm the presence of a Bayesian Nash equilibrium in a Bayesian game with infinitely many players. The strategy permits the action set of an individual to rely on the condition of nature and to become a subset of an infinite dimensional space. Existence theorems with set of agents that can either be categorized as infinite set or a measure space were also utilized.

Models, Bayesian statistical decision theory, Bayesian analysis, Game theory, Equilibrium (Economics)

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Markets with many more agents than commodities: Aumann's "hidden" assumption

Article Abstract:

It has been possible to demonstrate that, for an arbitrary atomless measure space of agents, there is a determined non-separable infinite dimensional commodity space. Within this space, an economy that meets all the favourable assumptions but which has no equilibrium can be built.

Commodities Purchasing, Research, Purchasing, Commodities

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