A Further Generalization of the Gale-Nikaido-Kuhn-Debreu Market Equilibrium Theorem

Abstract

We extend the important generalizations by Yannelis [25] and Cornet et al [7] of the classical result of Gale, Nikaido, Kuhn and Debreu (the "GNKD theorem") regarding existence of market equilibrium, by broadening the applicability of their results, which apply only to economies with commodity space that can be modeled by a locally convex Hausdorff space, to the wider class of economies with commodity spaces describable by any Hausdorff topological vector space with nontrivial continuous dual.