In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this...

We consider the problem of fairly dividing <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$l$$</EquationSource> </InlineEquation> divisible goods among <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$$n$$</EquationSource> </InlineEquation> agents with the generalized Leontief preferences. We propose and characterize the class of generalized egalitarian rules which satisfy efficiency, group strategy-proofness, anonymity, resource monotonicity,...</equationsource></inlineequation></equationsource></inlineequation>

We provide a characterization of selection correspondences in two-person exchange economies that can be core rationalized in the sense that there exists a preference profile with some standard properties that generates the observed choices as the set of core elements of the economy for any given...

This paper obtains finite analogues to propositions that a previous literature obtained about the informational efficiency of mechanisms whose possible messages form a continuum. Upon reaching an equilibrium message, to which all persons “agree”, a mechanism obtains an action appropriate to...

This paper obtains finite counterparts of previous results that showed the informational efficiency of the Walrasian mechanism among all mechanisms yielding Pareto-optimal individually rational trades in exchange economies while using a continuum of possible messages. In particular, we develop...