Back to Fundamentals: Convex Geometry and Economic Equilibrium
نویسندگان
چکیده
We propose a notion of competitive equilibrium in an abstract setting called a Convex Economy using a concept of convexity borrowed from Convex Geometry. The "magic” of linear equilibrium prices is put into perspective in this abstract setting. The abstract notion of competitive equilibrium is applied to a variety of convex economies and versions of the first and second fundamental welfare theorems are proved.
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