General equilibrium when economic growth exceeds discounting

After dropping the standard general-equilibrium assumption that preference orders discount future consumption faster than the economy grows and droppi ng continuity and weakening utility representation, we establish commodity prices and consumptions that approach approximate equilibrium to within any practical tolerance. The Weizacker-overtaking criterion defines the best-k nown non-standard-discounting orders we admit over discrete-time. determini stic consumption paths and over continuous-time, stochastic consumption pro cesses. We also perturb preferences to qualify all approximate equilibrium as full equilibrium, thus showing some well-known non-existence examples ar e singular, and so are inadequate defence of standard assumptions. Classifi cation Numbers: C60, C62. (C) 2000 Academic Press.