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Quasi-Equilibria in Markets with Non-Convex Preferences

Ross M. Starr
Econometrica
Vol. 37, No. 1 (Jan., 1969), pp. 25-38
Published by: The Econometric Society
DOI: 10.2307/1909201
Stable URL: http://www.jstor.org/stable/1909201
Page Count: 14
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Quasi-Equilibria in Markets with Non-Convex Preferences
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Abstract

A pure exchange economy is considered without the assumption of convex preferences. It is shown that the divergence from equilibrium due to non-convexity is bounded in a fashion independent of the number of traders. For a sufficiently large number of traders there are configurations arbitrarily close to equilibrium.

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