Nonlinear Prices in Nonconvex Economies with Classical Pareto and Strong Pareto Optimal Allocations

Nonlinear Prices in Nonconvex Economies with Classical Pareto and Strong Pareto Optimal Allocations The paper is devoted to applications of modern tools of variational analysis to equilibrium models of welfare economics involving generally nonconvex economies with infinite-dimensional commodity spaces. The main results relate to the so-called generalized/extended second welfare theorem ensuring an equilibrium price support at Pareto optimal allocations. Based on advanced tools of variational analysis and generalized differentiation, we establish refined results of this type with the novel usage of nonlinear prices at the three types to optimal allocations: weak Pareto, Pareto, and strong Pareto. We pay a special attention to strong Pareto optimal allocations in economies with ordering commodity spaces showing that enhanced results for them do not require, in contrast to the classical types of weak Pareto and Pareto optimality, any net demand qualification conditions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Positivity Springer Journals

Nonlinear Prices in Nonconvex Economies with Classical Pareto and Strong Pareto Optimal Allocations

Loading next page...
 
/lp/springer_journal/nonlinear-prices-in-nonconvex-economies-with-classical-pareto-and-bl0Ki0FenR
Publisher
Springer Journals
Copyright
Copyright © 2005 by Springer
Subject
Mathematics; Fourier Analysis; Operator Theory; Potential Theory; Calculus of Variations and Optimal Control; Optimization; Econometrics
ISSN
1385-1292
eISSN
1572-9281
D.O.I.
10.1007/s11117-004-8076-z
Publisher site
See Article on Publisher Site

Abstract

The paper is devoted to applications of modern tools of variational analysis to equilibrium models of welfare economics involving generally nonconvex economies with infinite-dimensional commodity spaces. The main results relate to the so-called generalized/extended second welfare theorem ensuring an equilibrium price support at Pareto optimal allocations. Based on advanced tools of variational analysis and generalized differentiation, we establish refined results of this type with the novel usage of nonlinear prices at the three types to optimal allocations: weak Pareto, Pareto, and strong Pareto. We pay a special attention to strong Pareto optimal allocations in economies with ordering commodity spaces showing that enhanced results for them do not require, in contrast to the classical types of weak Pareto and Pareto optimality, any net demand qualification conditions.

Journal

PositivitySpringer Journals

Published: Dec 23, 2004

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create lists to
organize your research

Export lists, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off