Hostname: page-component-77c89778f8-9q27g Total loading time: 0 Render date: 2024-07-17T16:31:34.616Z Has data issue: false hasContentIssue false

Maximal elements and equilibria for u-majorised preferences

Published online by Cambridge University Press:  17 April 2009

Kok-Keong Tan
Affiliation:
Department of Mathematics, Statistics and Computing Science, Dalhousie University, Halifax, Nova ScotiaCanadaB3H 3J5, kktan@cs.dal.ca and yuan@cs.dal.ca
Xian-Zhi Yuan
Affiliation:
Department of Mathematics, Statistics and Computing Science, Dalhousie University, Halifax, Nova ScotiaCanadaB3H 3J5, kktan@cs.dal.ca and yuan@cs.dal.ca
Rights & Permissions [Opens in a new window]

Abstract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

The purpose of this note is to give a general existence theorem for maximal elements for a new type of preference correspondences which are u-majorised. As an application, an existence theorem of equilibria for a qualitative game is obtained in which the preferences are u-majorised with an arbitrary (countable or uncountable) set of players and without compactness assumption on their domains in Hausdorff locally convex topological vector spaces.

Type
Research Article
Copyright
Copyright © Australian Mathematical Society 1994

References

[1]Aliprantis, C. and Brown, D., ‘Equilibria in markets with Riesz spaces of commodities’, J. Math. Econom. 11 (1983), 189207.CrossRefGoogle Scholar
[2]Arrow, K.J. and Debreu, G., ‘Existence of an equilibrium for a competitive economyEconometrica 22 (1954), 265290.CrossRefGoogle Scholar
[3]Bergstrom, T., ‘Maximal elements of acyclic preference relations on compact sets’, J. Econom. Theory 10 (1975), 403404.CrossRefGoogle Scholar
[4]Borglin, A. and Keiding, H., ‘Existence of equilibrium actions of equilibrium, “A note on the ‘new’ existence theorems”’, J. Math. Econom. 3 (1976), 313316.CrossRefGoogle Scholar
[5]Bewley, T.F., ‘Existence of equilibria in economics with infinitely many commodities’, J. Econom. Theory 4 (1972), 514540.CrossRefGoogle Scholar
[6]Chang, S.Y., ‘On the Nash equilibrium’, Soochow J. Math. 16 (1990), 241248.Google Scholar
[7]Debreu, G., ‘A social equilibrium existence theorem’, Proc. Nat. Acad. Sci. U.S.A. 38(1952), 386393.CrossRefGoogle ScholarPubMed
[8]Ding, X.P., Kim, W.K. and Tan, K.K., ‘Equilibria of non-compact generalized games with L*-majorized preference correspondences’, J. Math. Anal. Appl. 164 (1992), 508517.CrossRefGoogle Scholar
[9]Ding, X.P., Kim, W.K. and Tan, K.K., ‘A selection theorem and its applications’, Bull. Austral. Math. Soc. 46 (1992), 205212.CrossRefGoogle Scholar
[10]Dugundji, J., Topology (Allyn and Bacon Inc., Boston, 1966).Google Scholar
[11]Gale, D. and Mas-Colell, A., ‘An equilibrium existence theorem for a general model without ordered preferences’, J. Math. Econom. 2 (1975), 915.CrossRefGoogle Scholar
[12]Gale, D. and Mas–Colell, A., ‘On the role of complete, translative preferences in equilibrium theory’, in Equilibrium and Disequilibrium in Economics Theory, (Schwödiauer, G., Editor) (Reidel, Dordrecht, 1978), pp. 714.Google Scholar
[13]Hildenbrand, W., Core and equilibria of a large economy (Princeton University Press, Princeton, New Jersey, 1974).Google Scholar
[14]Himmelberg, C.J., ‘Fixed points of compact multifunctions’, J. Math. Anal. Appl. 38 (1972), 205207.CrossRefGoogle Scholar
[15]Kim, W.K., ‘Existence of maximal element and equilibrium for a nonparacompact N-person game’, Proc. Amer. Math. Soc. 116 (1992), 797807.Google Scholar
[16]Klein, E. and Thompson, A.C., Theory of correspondences: including applications to mathematical economics (John Wiley & Sons, 1984).Google Scholar
[17]Lassonde, M., ‘Fixed point for Kaktutani factorizable multifunctions’, J. Math. Anal. Appl. 152 (1990), 4660.CrossRefGoogle Scholar
[18]Mas-Colell, A. and Zame, W.R., ‘Equilibrium theory in infinite dimensional spaces’, in Handbook of Mathematical Economics, (Hildenbrand, W. and Sonnenschein, H., Editors)4 (North-Holland, 1991), pp. 18351898.Google Scholar
[19]Mehta, G., ‘Maximal elements of condensing preference maps’, Appl. Math. Lett. 3 (1990), 6971.CrossRefGoogle Scholar
[20]Mehta, G. and Tarafdar, E., ‘Infinite-dimensional Gale-Dubreu theorem and a fixed point theorem of Tarafdar’, J. Econom. Theory 41 (1987), 333339.CrossRefGoogle Scholar
[21]Shafer, W. and Sonnenschein, H., ‘Equilibrium in abstract economies without ordered preferences’, J. Math. Econom. 2 (1975), 345348.CrossRefGoogle Scholar
[22]Sonnenschein, H., ‘Demand theory without transitive preference with applications to the theory of competitive equilibrium’, in Preference, Utility and Demand, (Chipman, J. et al., Editors) (Harcourt Brace Jovanovich, New York, 1971).Google Scholar
[23]Tan, K.K. and Yuan, X.Z., ‘A minimax inequality with applications to existence of equilibrium points’, Bull. Austral. Math. Soc. 47 (1993), 483503.CrossRefGoogle Scholar
[24]Tan, K.K. and Yuan, X.Z., ‘Lower semicontinuity of multivalued mappings and equilibrium points’, in Proceedings of the World Congress of Nonlinear Analysts (Florida, USA, 1992). DAL TR–92–1.Google Scholar
[25]Tarafdar, E., ‘A fixed point theorem and equilibrium point of an abstract economy’, J. Math. Econom. 20 (1991), 211218.CrossRefGoogle Scholar
[26]Toussaint, S., ‘On the existence of equilibria in economies with infinitely many commodities and without ordered preferences’, J. Econom. Theory 33 (1984), 98115.CrossRefGoogle Scholar
[27]Tulcea, C.I., ‘On the approximation of upper-semicontinuous correspondences and the equilibriums of generalized games’, J. Math. Anal. Appl. 136 (1988), 267289.CrossRefGoogle Scholar
[28]Yannelis, N.C., ‘Maximal elements over non-compact subsets of linear topological spaces’, Econom. Lett. 17 (1985), 133136CrossRefGoogle Scholar
[29]Yannelis, N.C. and Prabhakar, N.D., ‘Existence of maximal elements and equilibria in linear topological spaces’, J. Math. Econom. 12 (1983), 233245.CrossRefGoogle Scholar
[30]Walker, M., ‘On the existence of maximal elements’, J. Econom. Theory 16 (1977), 470474.CrossRefGoogle Scholar