The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Mar, 1985, Volume 53, Issue 2
https://doi.org/0012-9682(198503)53:2<455:LOPOAI>2.0.CO;2-C
p. 455-462
A. Araujo
The existence of equilibrium and Pareto optimal allocations in economies with an infinite number of commodities is studied. It is shown that any topology stronger than the Mackey topology might lead to the nonexistence of nontrivial Pareto optimal allocations. I.e., there exists a well behaved economy with preferences that are continuous in this topology and without individually rational Pareto optimal allocations. A converse of this theorem, a slight modification of Bewley's [2] existence of equilibrium theorem, is also proved. Using a characterization of the Mackey topology in terms of impatience of consumers, due to Brown and Lewis [3], an interpretation of the theorem above is given: a topology is such that continuity with respect to it implies existence of nontrivial Pareto optimal allocations if and only if it also implies impatience on the part of the consumers.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
