On the continuity of the walras correspondence for distributional economies with an infinite dimensional commodity space

Sebastián Cea-Echenique (1) , Matías Fuentes (2)

1 UC - Pontificia Universidad Católica de Chile
2 UNSAM - Universidad Nacional de San Martin

Exchange economies are defined by a distribution on the space of characteristics where the commodity space is an ordered separable Banach space. We characterize the continuity of the equilibrium correspondence and a stability concept associated. We provide a positive answer to an open question about the continuity of the Walras correspondence in infinite dimensional spaces. Regarding the stability concept, differentiability assumptions are not required as it is usual in the literature on regularity. Moreover, since distributional economies do not specify a space of agents, our setting encompass several results in the literature on large economies.

Mots clés: Essential Stability; Walras Correspondence; Infinitely Many Commodities; Large Economies; Nowhere Equivalence

Domaines: Economies et finances; Méthodes et statistiques; Microstructure des marchés [q-fin.TR]; Économie et finance quantitative [q-fin]; Analyse fonctionnelle [math.FA]; Topologie générale [math.GN]; Optimisation et contrôle [math.OC]

Sebastián Cea-Echenique, Matías Fuentes. On the continuity of the walras correspondence for distributional economies with an infinite dimensional commodity space. 2020. ⟨hal-02430960v3⟩