In an exchange economy, we provide a discrete exchange process, which is Walrasian since the trades are given by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price then...

In an exchange economy, we define a discrete exchange process, which is Walrasian, since the trades are determined by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price...

In an exchange economy, we provide a discrete exchange process, which is Walrasian since the trades are given by the equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite number of steps and the local equilibrium price then...