Publication:
Discrete representations of a continuum economy

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URI: http://hdl.handle.net/10016/5481
ISSN: 1129-6569
DOI: 10.1007/s102030300001
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discrete_nunez_DEF_2003_ps.pdf (577.9 KB)
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2003
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Springer
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Abstract
We consider an atomless economy in which the continuum of agents is represented by a real interval. By dividing the interval and associating to every agent in each subinterval the same initial endowments and preferences, we define sequences of discrete economies as approximations to the initial continuum economy. We obtain convergence results for the core (or, alternatively, for the set of Walrasian allocations) of the continuum economy in terms of the cores of the approximating discrete economies. Finally, we state some counterexamples which provide a boundary for more general results in this framework.
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The original publication is available at www.springerlink.com
Keywords
Discrete representations, Continuum economy
Bibliographic citation
Decisions in Economics and Finance. 2003, vol 26, nº 1, p.19-38
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