De Rock, Bram; Ginsburgh, Victor A.; Demuynck, Thomas - European Centre for Advanced Research in Economics and … - 2015
The transfer paradox describes a situation in which a transfer ofendowments between two agents results in a welfare … arbitrary number ofgoods, the transfer paradox occurs only if the price equilibrium isunstable. In this paper, we show that in … the space of welfare weights,the set of stable equilibria and the set of no-transfer paradox equilibriacoincide. As a …