CFDP 838

Valuation and Optimality in Exchange Economies with a Countable Number of Agents


Publication Date: June 1987

Pages: 17


We present versions of the two fundamental welfare theorems of economics for exchange economies with a countable number of agents and an infinite dimensional commodity space. These results are then specialized to the overlapping generations model.


Welfare theorem, Overlapping generations model, Pareto optimality, Competitive equilibrium

JEL Classification Codes:  021, 024