Market Arbitrage, Social Choice and the Core

This paper establishes a clear connection between equilibrium theory, game theory and social choice theory by showing that, for a well defined social choice problem, a condition which is necessary and sufficient to solve this problem - limited arbitrage - is the same as the condition which is necessary and sufficient to establish the existence of an equilibrium and the core.

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Year of publication:	1996
Authors:	Chichilnisky, G
Institutions:	Department of Economics, School of Arts and Sciences
Subject:	GENERAL EQUILIBRIUM \| SOCIAL POLICY

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	33 pages
Classification:	D50 - General Equilibrium and Disequilibrium. General ; C7 - Game Theory and Bargaining Theory ; D71 - Social Choice; Clubs; Committees; Associations
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005162767