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Fairness Properties of Constrained Market Equilibria

Donnini, Chiara; Graziano, Maria Gabriella; Pesce, … - Centro Studi di Economia e Finanza (CSEF) - 2010

This paper studies the notion of fairness in pure exchange economies involving uncertainty and asymmetric information. We propose a new concept of coalitional fair allocation in order to solve the tension that may exist between efficiency and envy-freeness when the equity of allocations is...

Persistent link: https://www.econbiz.de/10008590666

The Ex Ante incentive Compatible Core in the Absence of Wealth Effects.

Forges, F.; Mertens, J.-F.; Vohra, R. - Center for Operations Research and Econometrics (CORE), … - 2001

incentive compatibility constraints: the associated ex ante core is generically non-empty. How ever, we exhibit a well …-behaved exchange economy in which this core is empty, even if goods are allocated through random mechanisms. …

Persistent link: https://www.econbiz.de/10005779439

Natural and Double Implementation of Public Ownership Solutions in Differentiable Production Economies.

Yoshihara, N. - Institute of Social and Economic Research (ISER), Osaka … - 1996

This paper examines the implementation of various solutions in differentiable concave production economies with one privately owned input, one output, and publicly owned production technology. The public ownership solutions we focus on are the Proportional Solution (PS) and the Equal Benefit...

Persistent link: https://www.econbiz.de/10005780358

Existence of Equilibria and Core Convergence in Economies with Bads.

Hara, C. - Faculty of Economics, University of Cambridge - 2004

We consider an exchange economy in which there are infinitely many consumers and some commodities are bads, that is, cause disutility to consumers. We give an example of such an economy for which there is no competitive equilibrium or its variants (quasi- or psuedo-equilibrium). We also give...

Persistent link: https://www.econbiz.de/10005783843

Equilibrium blocking in large quasilinear economies

Kamishiro, Yusuke; Serrano, Roberto - Instituto de Ciencias Sociales, Instituto Madrileño de … - 2009

We study information transmission in large interim quasilinear economies using the theory of the core. We concentrate … on the core with respect to equilibrium blocking, a core notion in which information is transmitted endogenously within … coalitions, as blocking can be understood as an equilibrium of a communication mechanism used by players in coalitions. We …

Persistent link: https://www.econbiz.de/10008458453

On the equivalence between the rejective core and the dividend equilibrium

Miyazaki, Kentaro; Takekuma, Shin-Ichi - Graduate School of Economics, Hitotsubashi University - 2010

an atomless exchange economy, the equivalence between the ‘rejective’ core and the set of dividend equilibrium …

Persistent link: https://www.econbiz.de/10008458966

Competitive Bargaining Equilibrium

Dávila, Julio; Eeckhout, Jan - Department of Economics, University of Pennsylvania - 2004

We propose a simple bargaining procedure, the equilibrium of which converges to the Walrasian allocation as the agents become increasingly patient. We thus establish that the competitive outcome obtains even if agents have market power and are not price-takers. Moreover, where in other...

Persistent link: https://www.econbiz.de/10005126704

Implementations of the Nash solution based on its Walrasian characterization

Trockel, Walter - In: Economic Theory 16 (2000) 2, pp. 277-294

The present paper provides three different support results for the Nash bargaining solution of $n$-person bargaining games. First, for any bargaining game there is defined a non-cooperative game in strategic form, whose unique Nash equilibrium induces a payoff vector that coincides with the Nash...

Persistent link: https://www.econbiz.de/10005596761

A comparison between the core and the monopoly solutions in a mixed exchange economy

Shitovitz, Benyamin - In: Economic Theory 10 (1997) 3, pp. 559-563

Function, given individual rationality and feasibility constraints. We prove that solutions belong to the core for a large …

Persistent link: https://www.econbiz.de/10005596804

Ex ante contracting with endogenously determined communication plans

Yazar, Jülide - In: Economic Theory 18 (2001) 2, pp. 439-450

communication plans and establish the existence of core strategies for this cooperative game under various regularity conditions. …

Persistent link: https://www.econbiz.de/10005597875