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Economic Equilibrium: Optimality and Price Decentralization

Authors
  • Aliprantis, C.D.1
  • Cornet, B.2
  • Tourky, R.3
  • 1 Purdue University, Department of Economics, West Lafayette, IN, 47907–1310, USA , West Lafayette
  • 2 Université Paris I, CERMSEM, Maison des Sciences Economiques, 106–112 Boulevard de l'Hopital, Paris Cedex 13, 75645, France , Paris Cedex 13
  • 3 University of Melbourne, Department of Economics, Melbourne, VIC, 3010, Australia , Melbourne
Type
Published Article
Journal
Positivity
Publisher
Kluwer Academic Publishers
Publication Date
Sep 01, 2002
Volume
6
Issue
3
Pages
205–241
Identifiers
DOI: 10.1023/A:1020240410066
Source
Springer Nature
Keywords
License
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Abstract

Mathematical economics has a long history and covers many interdisciplinary areas between mathematics and economics. At its center lies the theory of market equilibrium. The purpose of this expository article is to introduce mathematicians to price decentralization in general equilibrium theory. In particular, it concentrates on the role of positivity in the theory of convex economic analysis and the role of normal cones in the theory of non-convex economies.

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