Abstract
Abstract : The study of efficiency in the infinite-dimensional case is more complicated than the corresponding study in the finite-dimensional case for several reasons, of which the following two are perhaps the most significant ones: (1) The basic tool, separation theorems for convex sets, while it certainly exists in the infinite-dimensional case, is of very limited use in the exploration of efficiency prices. (2) In the infinite-dimensional case, several alternative definitions of efficiency prices suggest themselves, and the conditions which ensure the existence of one type of efficiency prices are usually quite different from the conditions which ensure the existence of another type. One must, therefore, devote some thought to the pros and cons of each one of the alternative definitions of efficiency prices. The report describes propositions and examples that have to do with the existence of the various types of efficiency prices.
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