Title

Equilibria in Exchange Economies with a Countable Number of Agents

Document Type

Discussion Paper

Publication Date

4-2-1987

CFDP Number

834R

CFDP Revision Date

1987-04-01

CFDP Pages

38

Abstract

The existence of equilibria is established in an overlapping generations exchange economy, where each generation lives for two periods and the commodity space is the positive cone of an infinite dimensional Riesz space. In particular, we establish the existence of equilibria in the stochastic overlapping generations model, i.e., we establish the existence of equilibria when the commodity space in each period is L ∞ equipped with the Mackey topology τ( L ∞ , L 1 ).

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