In a fundamental contribution, Prescott and Townsend (1984) [PT] have shown that the existence and efficiency … effort. We re-examine here the existence and efficiency properties of Walrasian equilibria in the moral hazard economy …

claims. We focus on market-based allocation rules that impose a two-step procedure: assignment of rights based on claims …-assignment rules that guarantee that the allocation rules are fair. We apply our results to problems of greenhouse gas emissions and …

(unit-demand). We focus on allocation rules satisfying individual rationality, no subsidy, efficiency, and strategy …We consider the multi-object allocation problem with monetary transfers where each agent obtains at most one object …

study focuses on the multi-object allocation problem with monetary transfers where each agent obtains at most one object … adjusted to v on the classical domain is the only rule satisfying four desirable properties; efficiency, strategy- proofness … more general situation than them. Moreover, we characterize the minimum price Walrasian rules by efficiency, strategy …