THE GENERAL EXISTENCE OF EXTENDED PRICE EQUILIBRIA WITH INFINITELY MANY COMMODITIES

This paper deals with the existence of equilibria with infinitely many goods. Its main goal is to show that when restricted to the set of fe asible allocations there exists an economically meaningful price (in t he sense that a price in L1 is economically meaningful but a purely fi nitely additive measure is not). We cover both the L(p) (1 less-than-o r-equal-to p less-than-or-equal-to infinity) and M(K) cases. (C) 1994 Academic Press, Inc.