Ghosal, S.; Polemarchakis, H. M. - In: Economic Theory 13 (1999) 3, pp. 629-642
A feasible social state is irreducible if and only if, for any non-trivial partition of individuals into two groups, there exists another feasible social state at which every individual in the first group is equally well-off and someone strictly better-off. Competitive equilibria decentralize...