Econometrica: Jan 1969, Volume 37, Issue 1
Quasi-Equilibria in Markets with Non-Convex Preferences
Ross M. StarrA pure exchange economy is considered without the assumption of convex preferences. It is shown that the divergence from equilibrium due to non-convexity is bounded in a fashion independent of the number of traders. For a sufficiently large number of traders there are configurations arbitrarily close to equilibrium.
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