Unpublished Paper
The Existence of Maximal Elements and Equilibria in the Absence of Transitivity
Department of Economics, UCSB
(1975)
Abstract
This paper generalizes results of Ky Fan and Hugo Sonnenschein on the existence of maximal elements for non-transitive binary relations. It proves a generalization of Nash's theorem on the existence of non-cooperative equilibrium. It also shows that existence of competitive equilibrium can be proved as a consequence of the existence of a maximal element for an appropriately chosen binary relation.
Keywords
- existence of competitive equilibrium,
- non-transitive preferences,
- maximization,
- maximal elements
Disciplines
Publication Date
August 10, 1975
Citation Information
Ted Bergstrom. "The Existence of Maximal Elements and Equilibria in the Absence of Transitivity" Department of Economics, UCSB (1975) Available at: http://works.bepress.com/ted_bergstrom/17/