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General equilibrium and resource economics (1999)

van Geldrop, Jan H. ; Withagen, Cees A.

Springer

Economic theory 14 (1999), S. 691-704

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ISSN: 1432-0479

Keywords: Keywords and Phrases: General equilibrium, Resource economies, Truncation. ; JEL Classification Numbers: D50, Q30.

Source: Springer Online Journal Archives 1860-2000

Topics: Economics

Notes: Summary. For a number of reasons a large class of general equilibrium models from the field of resource economics does not allow for an equilibrium analysis along the lines of the theory of infinite dimensional commodity spaces. The reasons concern the choice of the commodity space and the applicability of properness assumptions with respect to preferences and the technology. This paper illustrates the difficulties and shows for a prototype model how the problems can successfully be tackled by the use of a limit argument on equilibria in the truncated economies.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1007/s001990050349

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