We study Nash implementation by natural price-quantity mechanisms in pure exchange economies with free-disposal (Saijo et al., 1996, 1999) where agents have weak/strong intrinsic preferences for honesty (Dutta and Sen, 2012). Firstly, the Walrasian rule is shown tobe non-implementable where all...

As in Roemer (1982, chapter 1), this paper considers a Marxian Heckscher-Ohlin model of subsistence international economies with a simple Leontief production technique and examines the existence and characterization of free trade equilibria involving the unequal exchange of labor (UEL). The...

The purpose of this paper is to examine the possibility of a social choice rule to implement a social policy for “securing basic well-being for all.†The paper introduces a new scheme of social choice, called a social relation function (SRF), which associates a reflexive and transitive...

This paper analyses the equilibrium dynamics of exploitation and class in general accumulation economies with population growth, technical change, and bargaining by adopting a novel computational approach. First, the determinants of the emergence and persistence of exploitation and class are...