A note on price systems in infinite dimensional space推荐.pdfVIP

Economics Department of the University of Pennsylvania Institute of Social and Economic Research -- Osaka University A Note on Price Systems in Infinite Dimensional Space Author(s): Edward C. Prescott and Robert E. Lucas, Jr. Reviewed work(s): Source: International Economic Review, Vol. 13, No. 2 (Jun., 1972), pp. 416-422 Published by: Wiley for the Economics Department of the University of Pennsylvania and Institute of Social and Economic Research -- Osaka University Stable URL: /stable/2526035 . Accessed: 21/12/2012 22:27 Your use of the JSTOR archive indicates your acceptance of the Terms Conditions of Use, available at . /page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@. . Wiley, Economics Department of the University of Pennsylvania, Institute of Social and Economic Research -- Osaka University are collaborating with JSTOR to digitize, preserve and extend access to International Economic Review. This content downloaded on Fri, 21 Dec 2012 22:27:38 PM All use subject to JSTOR Terms and Conditions INTERNATIONAL ECONOMIC REVIEW Vol. 13, No. 2, June, 1972 A NOTE ON PRICE SYSTEMS IN INFINITE DIMENSIONAL SPACE* BY EDWARD C. PRESCOTTAND ROBERT E. LUCAS, JR. DEBREU [2], under certain assumptions, proves that any valuation equilibrium is a Pareto optimum and conversely. A valuation equilibrium is a resource allocation and a pricing s