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JOURNALS // Diskretnyi Analiz i Issledovanie Operatsii // Archive

Diskretn. Anal. Issled. Oper., 2010 Volume 17, Issue 3, Pages 61–83 (Mi da612)

Equilibria in the economy model with overlapping generations of investors

A. V. Sidorovab

a S. L. Sobolev Institute of Mathematics, SB RAS, Novosibirsk, Russia
b Novosibirsk State University, Novosibirsk, Russia

Abstract: In the paper, the study of the economy model with endogeneous investment is continued in the situation when investment process is time-unbounded and investors (alias consumers) form overlapping generations. As opposed to previously considered cases, the consumption space is infinite dimensional, though for each specified generation the accessible goods form a finite set. Existence of an equilibrium price trajectory as well as an equilibrium inter-temporal allocation is proved, which are obtained as limits of convergent sequences in the weak topology of infinite dimensional real space. Bibl. 7.

Keywords: competitive equilibrium, overlapping generations, endogeneous investment, discounted value, weak convergence.

UDC: 519.865.3

Received: 29.10.2009
Revised: 24.02.2010



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