tag:blogger.com,1999:blog-325397004329727405.post3286117427093011981..comments2023-09-25T02:14:15.189-04:00Comments on Beyond Microfoundations:: Theory of Value, Chapter 2...David R. Pughhttp://www.blogger.com/profile/09032073870730301659noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-325397004329727405.post-56365722545847290852010-12-09T20:15:16.573-05:002010-12-09T20:15:16.573-05:00There is a well-established literature extending G...There is a well-established literature extending GE existence results to infinite dimensional commodity spaces, which I believe starts with Aumann, "Existence of a Competitive Equilibrium in Markets with a Continuum of Traders", 1966, Econometrica. In principle there is no problem with allowing the number of commodities to increase with time, since commodities are already indexed by date. I would imagine one problem with extending GE to incorporate commodities that have not yet been invented is that one has to make some assumption about agents' beliefs about what commodities/ technologies will be invented in the future.Keshavhttps://www.blogger.com/profile/12910240714703883226noreply@blogger.com