Dierker, E.; Dierker, H.; Grodal, B. - Olin School of Business, Washington University in St. Louis - 1999
In this paper we analyze the welfare properties of the set of Dreze equilibria for economies with incomplete markets and firms. The well known fact that a Dreze equilibrium need not be constrained Pareto Optimal is often attributed to a lack of coordination between firms. We show that there are...
