Quasiequilibria in Abstract Economies: Application to the Overlapping Generations Model

AbstractA definition and an existence result are given for quasiequilibria in abstract economies with a (possibly) countably infinite set of agents and infinite dimensional choice sets. Applied to the overlapping generations exchange model, this result allows us to prove the existence of equilibria when the commodity space in each period is some Euclidean space, L∞ or some Lp (p ≥ 1). The preferences of the agents may be interdependent and are not required to be transitive or complete