Journal Article The Core of an Economy with a Measure Space of Economic Agents Get access W. Hildenbrand W. Hildenbrand University of California, Berkeley, U.S.A., Studiengruppe für Systemforschung, Heidelberg, Germany Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 35, Issue 4, October 1968, Pages 443–452, https://doi.org/10.2307/2296771 Published: 01 October 1968

We consider an economy with pure factors of production, private ownership of endowments and constant returns to scale in production. Typically in such an economy, the weak axiom of revealed preference for market demand does not hold. The main reason for this is that the income distribution in such a private ownership economy depends too sensitively on the price system.