Walrasian equilibrium theory with and without free-disposal: theorems and counterexamples in an infinite-agent context

Abstract This paper provides four theorems on the existence of a free-disposal equilibrium in Walrasian economy: first with an arbitrary set agents compact consumption sets, next highlighting trade-offs involved relaxation compactness assumption, and last two countable endowed weighting structure. The results generalize antecedent literature pioneered by Shafer–Sonnenschein 1975, currently form taken He–Yannelis 2016. also counterexamples to non-free-disposal cases both atomless measure space agents. One examples is related one Chiaki Hara presented 2005. are interest because they satisfy all hypotheses Shafer’s 1976 result equilibrium, except for assumption finite work builds recent authors abstract economies, contributes ongoing discussion modelling “large” societies.