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Consistent Solutions in Atomless Economies

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  • Thomson, William
  • Zhou, Lin

Abstract

The authors consider the problem of allocating a bundle of commodities among a group of agents who are collectively entitled to them. It is proved that, for an atomless economy with possibly satiated preferences, any solution that is efficient, equitable, and consistent must select allocations that are supported by equal-budget Walrasian equilibria with slack. Copyright 1993 by The Econometric Society.

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Bibliographic Info

Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 61 (1993)
Issue (Month): 3 (May)
Pages: 575-87

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Handle: RePEc:ecm:emetrp:v:61:y:1993:i:3:p:575-87

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Cited by:
  1. Cato, Susumu, 2010. "Local strict envy-freeness in large economies," Mathematical Social Sciences, Elsevier, vol. 59(3), pages 319-322, May.
  2. Nir Dagan, 1996. "Consistency and the Walrasian allocations correspondence," Economics Working Papers 151, Department of Economics and Business, Universitat Pompeu Fabra.
  3. Sprumont, Yves & Zhou, Lin, 1999. "Pazner-Schmeidler rules in large societies," Journal of Mathematical Economics, Elsevier, vol. 31(3), pages 321-339, April.
  4. Nir Dagan, 1995. "Consistent solutions in exchange economies: A characterization of the price mechanism," Economics Working Papers 141, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Justin Leroux, 2006. "A discussion of the consistency axiom in cost-allocation problems," Cahiers de recherche 06-13, HEC Montréal, Institut d'économie appliquée.
  6. Bettina Klaus & Flip Klijn, 2011. "Local and Global Consistency Properties for Student Placement," Working Papers 538, Barcelona Graduate School of Economics.
  7. Konovalov, A., 2001. "Essays in General Equilibrium Theory," Open Access publications from Tilburg University urn:nbn:nl:ui:12-87266, Tilburg University.
  8. Volij, Oscar & Serrano, Roberto, 1998. "Axiomatizations of Neoclassical Concepts for Economies," Staff General Research Papers 5192, Iowa State University, Department of Economics.
  9. Stefan Ambec, 2008. "Sharing a resource with concave benefits," Social Choice and Welfare, Springer, vol. 31(1), pages 1-13, June.
  10. Konovalov, A., 1998. "Core Equivalence in Economies With Satiation," Discussion Paper 1998-80, Tilburg University, Center for Economic Research.

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