Economic equilibrium analysis with Riesz geometry and measure theory

Abstract

Equilibrium is a concern of each individual in the society, of an organisation, and of the entire world. This Masters dissertation consider the analysis of economic equilibrium for an infinite dimensional economy. Two mathematic models are used to conduct the analysis: the continuum economics model and the Riesz dual system hLw,L0wi model. Continuum economics show how an economy with many economic actors reach both an equilibrium of Walras and a core allocation. The second model, based on the paper by Aliprantis, Burkinshaw, Brown, explore the equilibrium properties embodied in the Edgeworth box. Three more equilibrium’s concepts(extended Walras equilibrium, the quasiequilibrium and the approximate quasiequilibrium) as well as the connection between them are presented in the last chapter of this dissertation.