Showing 71 - 80 of 955,235
Persistent link: https://www.econbiz.de/10012230177
There is a divisible commodity and money. Each agent has an endowment of the two goods and continuous, monotone, convex preferences over bundles. Agents may benefit from trade. An exchange rule is a mapping that, for each profile of preferences, calculates for each agent a trade that he finds...
Persistent link: https://www.econbiz.de/10011571810
Persistent link: https://www.econbiz.de/10011668040
Persistent link: https://www.econbiz.de/10012006599
We identify a large subdomain, D, of quasilinear economies on which any efficient exchange rule will be generically (in the Baire sense) manipulable. For generic economies outside of D, we find rules that are locally non-manipulable. The interior of the set D consists of all economies in which...
Persistent link: https://www.econbiz.de/10012020281
Persistent link: https://www.econbiz.de/10011900130
We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) in which the unique equilibrium satisfies lexicographic welfare maximization. When we relax assumptions on consumption sets and preferences slightly, equilibria other than lexicographic welfare...
Persistent link: https://www.econbiz.de/10010421741
Persistent link: https://www.econbiz.de/10000633787
Persistent link: https://www.econbiz.de/10001491758
Persistent link: https://www.econbiz.de/10001491763