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: May, 1978, Volume 46, Issue 3

An Equilibrium Existence Theorem without Convexity Assumptions<541:AEETWC>2.0.CO;2-#
p. 541-555

Akira Yamazaki

The main theorem in this paper is one in a long series of theorems which show the existence of equilibrium in economies without convex preferences, without convex consumption sets, or without complete and transitive preorderings. Here, it is proved that a competitive equilibrium exists in a large economy with not necessarily convex consumption sets and where preferences are continuous and transitive. As an additional assumption the continuity of the wealth distribution with respect to the Borel-Lebesque measure is required.

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