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Autre Publication Scientifique Documents de travail du Centre d'Économie de la Sorbonne Année : 2022

Increasing returns, externalities and equilibrium in Riesz spaces

Résumé

This paper studies the appropriate pricing rule and its associated equilibrium concept when there are market imperfections in a Riesz space setting. We extend the notion of marginal pricing equilibria to situations with non convex production sets and external factors in an abstract vector lattice whose topological dual is a sublattice of its order dual. Our main result guarantees that a non-competitive equilibrium exists and it is related with first order condition for profit maximization at the time that it encompasses a wide range of economic situations since previous results in the literature become particular cases of it. Furthermore, we developed a new properness assumption that takes into account the non convexity of the production correspondences together with the presence of externalities which in some sense is a weakening of some known conditions in competitive economies.
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halshs-03908326 , version 1 (20-12-2022)

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  • HAL Id : halshs-03908326 , version 1

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Jean-Marc Bonnisseau, Matías Fuentes. Increasing returns, externalities and equilibrium in Riesz spaces. 2022. ⟨halshs-03908326⟩
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