Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Jan, 1969, Volume 37, Issue 1

Quasi-Equilibria in Markets with Non-Convex Preferences<25:QIMWNP>2.0.CO;2-E
p. 25-38

Ross M. Starr

A 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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