Volume 17, No 3, 2010, P. 61-83

UDC 519.865.3
A. V. Sidorov
Equilibria in the economy model with overlapping generations of investors

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.

Sidorov Alexander Vasil’evich ^1,2
1. S. L. Sobolev Institute of Mathematics, SB RAS,
4 Acad. Koptyug Ave., 630090 Novosibirsk, Russia
2. Novosibirsk State University,
2 Pirogov St., 630090 Novosibirsk, Russia
e-mail: sidorov@math.nsc.ru