Valuation equilibrium and pareto optimum in non-convex economies

Jean-Marc Bonnisseau (1, 2) , Bernard Cornet (1, 2)

1 CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique
2 CORE - Center of Operation Research and Econometrics [Louvain]

In this paper, we report an extension of the second welfare theorem when both convexity and differentiability assumptions are violated. Our model allows various formalizations of the marginal rule and considers the general setting of a topological vector space of commodities.

Mots clés: General equilibrium theory; Pareto optimality; marginal pricing rule

Domaines: Optimisation et contrôle [math.OC]; Economies et finances

Jean-Marc Bonnisseau, Bernard Cornet. Valuation equilibrium and pareto optimum in non-convex economies. Journal of Mathematical Economics, 1988, 17 (2-3), pp.293-308. ⟨10.1016/0304-4068(88)90012-2⟩. ⟨hal-00187225⟩