Linear and non-linear price decentralization

Aliprantis, Charalambos D., Florenzano, Monique and Tourky, Rabee (2005) Linear and non-linear price decentralization. Journal of Economic Theory, 121 1: 51-74. doi:10.1016/j.jet.2004.04.007

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Author Aliprantis, Charalambos D.
Florenzano, Monique
Tourky, Rabee
Title Linear and non-linear price decentralization
Journal name Journal of Economic Theory   Check publisher's open access policy
ISSN 0022-0531
Publication date 2005-03
Sub-type Article (original research)
DOI 10.1016/j.jet.2004.04.007
Volume 121
Issue 1
Start page 51
End page 74
Total pages 24
Place of publication San Diego CA, USA
Publisher Academic Press
Language eng
Subject 1505 Marketing
150507 Pricing (incl. Consumer Value Estimation)
1502 Banking, Finance and Investment
Abstract Compendious and thorough solutions to the existence of a linear price equilibrium problem, the second welfare theorem, and the limit theorem on the core are provided for exchange economies whose consumption sets are the positive cone of arbitrary ordered Fréchet spaces—dispensing entirely with the assumption that the vector ordering of the commodity space is a lattice. The motivation comes from economic applications showing the need to bring within the scope of equilibrium theory vector orderings that are not lattices, which arise in the typical model of portfolio trading with missing options. The assumptions are on the primitives of the model. They are bounds on the marginals of non-linear prices and for ω-proper economies they are both sufficient and necessary.
Keyword Linear and non-linear prices
Welfare theorems
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Economics Publications
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Citation counts: TR Web of Science Citation Count  Cited 12 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 14 times in Scopus Article | Citations
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Created: Thu, 17 Dec 2009, 15:42:19 EST by Maria Campbell on behalf of Faculty of Business, Economics & Law