The core-walras equivalence

The equivalence of cores and competitive equilibrium sets in the very general framework of Boolean rings and algebras is proved. The results include most previous results as special cases. In particular, it is shown that Theorems 1 and 2 of M. K. Richter (J. Econom. Theory 3 (1971), 323–334) remain true without the usual assumptions of δ-algebras for coalitions and δ-additive measures for allocations. This permits economies with countably many agents, rather than requiring continuumly many.

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