A Theory of Value with Non-linear Prices: Equilibrium Analysis beyond Vector Lattices
A Theory of Value with Non-linear Prices: Equilibrium Analysis beyond Vector Lattices
复制标题
非线性价格的价值理论：向量格之外的均衡分析
DOI：
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发表时间：
2001
期刊：
影响因子：
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通讯作者：
N. Yannelis
中科院分区：
文献类型：
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作者：
C. Aliprantis;R. Tourky;N. Yannelis
本文提出了一种新的价值理论和个性化定价系统，该系统自然会产生一系列非线性价格。这提供了无坐标价值理论，其中分析没有任何晶格理论考虑。当商品捆绑完全可分解时，广义价格变为线性，并且分析专门针对瓦尔拉斯模型。例如，当商品空间是向量格且消费集与正圆锥重合时，就会发生这种情况。我们的方法提供了均衡存在的定理，并提供了帕累托最优性和埃奇沃斯均衡的基于价值的表征，其中瓦尔拉斯线性基于价格的表征失败了。该分析在有限维和无限维设置中都有应用。经济文献杂志分类号：C62、C71、D46、D51、D61。
This paper presents a new theory of value with a personalized pricing system that naturally induces a family of non-linear prices. This affords a coordinate free theory of value in which the analysis is without any lattice theoretic considerations. When commodity bundles are perfectly decomposable the generalized prices become linear and the analysis specializes to the Walrasian model. This happens, for instance, whenever the commodity space is a vector lattice and consumption sets coincide with the positive cone. Our approach affords theorems on the existence of equilibrium and provides a value-based characterization of Pareto optimality and Edgeworth equilibrium where the Walrasian linear price-based characterization fails. The analysis has applications in the finite as well as the infinite dimensional setting. Journal of Economic Literature Classification Numbers: C62, C71, D46, D51, D61.