Existence of General Equilibrium in a Prototype L 1 Economy

@inproceedings{Geldrop2007ExistenceOG,
  title={Existence of General Equilibrium in a Prototype L 1 Economy},
  author={Jan van Geldrop and Cees Withagen},
  year={2007}
}
It is often argued that in view of the second law of thermodynamics there is a limit to the total ow of commodities produced over time. If that is correct the economy's commodity space is a (proper) subspace of the space of Lebesgue integrable functions. This space poses serious problems in the literature on the existence of general equilibria in economies… CONTINUE READING