Limited Arbitrage is Necessary and Sufficient for the Existence of an Equilibrium

Graciela Chichilnisky
In 1991, in [1], [2] and in [8], I introduced the concept of global cone and used it to define a condition on endowments and preferences, "˜limited arbitrage', which I showed to be necessary and sufficient for the existence of a competitive equilibrium [8]. In response to a comment [19], I show here that the authors misunderstood my results by focusing on brief announcements which cover other areas, social choice [6] and algebraic topology [3],...
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