Advanced Search
MyIDEAS: Login to save this article or follow this journal

Axiomatizations of neoclassical concepts for economies

Contents:

Author Info

  • Serrano, Roberto
  • Volij, Oscar

Abstract

We characterize the Pareto correspondence, the core and the Walras solution using the axioms of consistency, converse consistency and one-person rationality. Consistency and its converse are defined with respect to suitably constructed reduced economies for each case. Our results hold for the well-known class of coalitional production economies, which covers exchange economies as a particular case. The key reason to use this class is the observation that the reduction of an exchange economy yields a production economy. Author Keywords: Consistency; Reduced economy; Core; Walrasian equilibrium

(This abstract was borrowed from another version of this item.)

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/B6VBY-3VNHFBF-8/2/d4f7a7546873cb05b6355f203d6543ef
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 30 (1998)
Issue (Month): 1 (August)
Pages: 87-108

as in new window
Handle: RePEc:eee:mateco:v:30:y:1998:i:1:p:87-108

Contact details of provider:
Web page: http://www.elsevier.com/locate/jmateco

Related research

Keywords:

Other versions of this item:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Peleg, B. & Tijs, S., 1993. "The Consistency Principle for Games in Strategic Form," Papers 9306, Tilburg - Center for Economic Research.
  2. Thomson, William, 1988. "A study of choice correspondences in economies with a variable number of agents," Journal of Economic Theory, Elsevier, vol. 46(2), pages 237-254, December.
  3. Peleg, B, 1986. "On the Reduced Game Property and Its Converse," International Journal of Game Theory, Springer, vol. 15(3), pages 187-200.
  4. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  5. van den Nouweland, A. & Peleg, B. & Tijs, S., 1996. "Axiomatic characterizations of the Walras correspondence for generalized economies," Journal of Mathematical Economics, Elsevier, vol. 25(3), pages 355-372.
  6. Peleg, Bezalel, 1985. "An axiomatization of the core of cooperative games without side payments," Journal of Mathematical Economics, Elsevier, vol. 14(2), pages 203-214, April.
  7. Nir Dagan, 1996. "Recontracting and Competition," Economic theory and game theory 013, Nir Dagan, revised Jun 1996.
  8. Nagahisa, Ryo-ichi, 1991. "A local independence condition for characterization of Walrasian allocations rule," Journal of Economic Theory, Elsevier, vol. 54(1), pages 106-123, June.
  9. Boehm, Volker, 1974. "The Limit of the Core of an Economy with Production," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(1), pages 143-48, February.
  10. Thomson, William & Zhou, Lin, 1993. "Consistent Solutions in Atomless Economies," Econometrica, Econometric Society, vol. 61(3), pages 575-87, May.
  11. Lensberg, Terje, 1988. "Stability and the Nash solution," Journal of Economic Theory, Elsevier, vol. 45(2), pages 330-341, August.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Roberto Serrano, 2007. "Cooperative Games: Core And Shapley Value," Working Papers wp2007_0709, CEMFI.
  2. İpek Özkal-Sanver, 2013. "Minimal conversely consistent extension of the men-optimal solution," Social Choice and Welfare, Springer, vol. 40(1), pages 89-99, January.
  3. Yan-An Hwang, 2013. "On the core: complement-reduced game and max-reduced game," International Journal of Game Theory, Springer, vol. 42(2), pages 339-355, May.
  4. de CLIPPEL, Geoffroy, 2003. "Invariance with respect to re-evaluations of coalitional power," CORE Discussion Papers 2003056, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. repec:ebl:ecbull:v:3:y:2008:i:45:p:1-6 is not listed on IDEAS
  6. Yan-An Hwang & Yu-Hsien Liao, 2007. "A new axiomatization of the core on fuzzy NTU games," Economics Bulletin, AccessEcon, vol. 3(37), pages 1-6.
  7. Albizuri, M. Josune & Sudhölter, Peter, 2014. "On the Core of Games with Communication Structures," Discussion Papers of Business and Economics 6/2014, Department of Business and Economics, University of Southern Denmark.
  8. de Clippel, Geoffroy, 2008. "An axiomatization of the inner core using appropriate reduced games," Journal of Mathematical Economics, Elsevier, vol. 44(3-4), pages 316-323, February.
  9. Lee, Darin & Volij, Oscar, 2002. "The core of economies with asymmetric information: an axiomatic approach," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 43-63, September.
  10. Yan-An Hwang & Yu-Hsien Liao, 2010. "The unit-level-core for multi-choice games: the replicated core for TU games," Journal of Global Optimization, Springer, vol. 47(2), pages 161-171, June.
  11. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506 Elsevier.
  12. Yan-An Hwang & Yu-Hsien Liao, 2011. "The multi-core, balancedness and axiomatizations for multi-choice games," International Journal of Game Theory, Springer, vol. 40(4), pages 677-689, November.
  13. repec:ebl:ecbull:v:3:y:2007:i:37:p:1-6 is not listed on IDEAS
  14. Roberto Serrano, 2007. "Nash program," Working Papers 2007-05, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  15. Camelia Bejan & Juan Gómez, 2012. "Axiomatizing core extensions," International Journal of Game Theory, Springer, vol. 41(4), pages 885-898, November.
  16. Yan-An Hwang, 2006. "Two characterizations of the consistent egalitarian solution and of the core on NTU games," Computational Statistics, Springer, vol. 64(3), pages 557-568, December.
  17. Yu-Hsien Liao, 2008. "Consistency and the core for fuzzy non-transferable-utility games," Economics Bulletin, AccessEcon, vol. 3(45), pages 1-6.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:mateco:v:30:y:1998:i:1:p:87-108. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.