Equilibrium with non-convex preferences: some examples

Cuong Le Van (1, 2, 3, 4) , Ngoc-Sang Pham (5, 6)

1 IPAG Business School
2 CNRS - Centre National de la Recherche Scientifique
3 PSE - Paris School of Economics
4 CES - Centre d'économie de la Sorbonne
5 Métis Lab EM Normandie
6 EM Normandie - École de Management de Normandie

We study the existence of equilibrium when agents' preferences may not be convex. For some specific utility functions, we provide a necessary and sufficient condition under which there exists an equilibrium. The standard approach cannot be directly applied to our examples because the demand correspondence of some agents is neither single valued nor convex valued.

Mots clés: general equilibrium.; Non-convex preferences

Domaines: Sciences de l'Homme et Société; Économie et finance quantitative [q-fin]

Cuong Le Van, Ngoc-Sang Pham. Equilibrium with non-convex preferences: some examples. 2021. ⟨halshs-03177843⟩