IDEAS home Printed from https://ideas.repec.org/a/eee/mateco/v46y2010i4p373-381.html
   My bibliography  Save this article

Core allocations and small income transfers

Author

Listed:
  • Anderson, Robert M.

Abstract

We show that, given any allocation f in the core of an exchange economy, we can find small income transfers and a Walrasian allocation relative to the transfers such that most agents are indifferent between f and . In addition, we can find small income transfers and an approximate Walrasian allocation relative to the transfers such that all agents are indifferent between and f.

Suggested Citation

  • Anderson, Robert M., 2010. "Core allocations and small income transfers," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 373-381, July.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:373-381
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0304-4068(09)00065-2
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. R.J. Aumann & S. Hart (ed.), 2002. "Handbook of Game Theory with Economic Applications," Handbook of Game Theory with Economic Applications, Elsevier, edition 1, volume 3, number 3.
    2. Robert M. Anderson, 1981. "Core Theory with Strongly Convex Preferences," Cowles Foundation Discussion Papers 578, Cowles Foundation for Research in Economics, Yale University.
    3. Anderson, Robert M, 1990. "Core Allocations Are Almost Utility-Maximal," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(1), pages 1-9, February.
    4. Robert M. Anderson & M. Ali Khan & Salim Rashid, 1982. "Approximate Equilibria with Bounds Independent of Preferences," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(3), pages 473-475.
    5. Anderson, Robert M, 1985. "Strong Core Theorems with Nonconvex Preferences," Econometrica, Econometric Society, vol. 53(6), pages 1283-1294, November.
    6. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702.
    7. Wan-Jin Kim., 1986. "On the Rate of Convergence of the Core," Economics Working Papers 8617, University of California at Berkeley.
    8. Dierker, Egbert, 1975. "Gains and losses at core allocations," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 119-128.
    9. Anderson, Robert M, 1988. "The Second Welfare Theorem with Nonconvex Preferences," Econometrica, Econometric Society, vol. 56(2), pages 361-382, March.
    10. Anderson, Robert M, 1978. "An Elementary Core Equivalence Theorem," Econometrica, Econometric Society, vol. 46(6), pages 1483-1487, November.
    11. Mas-Colell, Andreu & Neuefeind, Wilhelm, 1977. "Some Generic Properties of Aggregate Excess Demand and an Application," Econometrica, Econometric Society, vol. 45(3), pages 591-599, April.
    12. Brown, Donald J. & Robinson, Abraham, 1974. "The cores of large standard exchange economies," Journal of Economic Theory, Elsevier, vol. 9(3), pages 245-254, November.
    13. Grodal, Birgit, 1975. "The rate of convergence of the core for a purely competitive sequence of economies," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 171-186.
    14. Kim, Wan-Jin, 1986. "On the Rate of Convergence of the Core," Department of Economics, Working Paper Series qt62c3v2mg, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    15. Cheng, Hsueh-Cheng, 1981. "What Is the Normal Rate of Convergence of the Core? (Part I)," Econometrica, Econometric Society, vol. 49(1), pages 73-83, January.
    16. Anderson, Robert M., 1992. "The core in perfectly competitive economies," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 14, pages 413-457, Elsevier.
    17. Debreu, Gerard, 1975. "The rate of convergence of the core of an economy," Journal of Mathematical Economics, Elsevier, vol. 2(1), pages 1-7, March.
    18. William Geller, 1986. "An Improved Bound for Approximate Equilibria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(2), pages 307-308.
    19. Anderson, Robert M., 1987. "Gap-minimizing prices and quadratic core convergence," Journal of Mathematical Economics, Elsevier, vol. 16(1), pages 1-15, February.
    20. M. Ali Khan, 1974. "Some Equivalence Theorems," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(4), pages 549-565.
    21. Anderson, Robert M, 1982. "A Market Value Approach to Approximate Equilibria," Econometrica, Econometric Society, vol. 50(1), pages 127-136, January.
    22. Anderson, Robert M, 1981. "Core Theory with Strongly Convex Preferences," Econometrica, Econometric Society, vol. 49(6), pages 1457-1468, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alejandro Manelli, 1990. "Core Convergence Without Monotone Preferences or Free Disposal," Discussion Papers 891, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    2. M. Ali Khan & Kali P. Rath, 2011. "The Shapley-Folkman Theorem and the Range of a Bounded Measure: An Elementary and Unified Treatment," Economics Working Paper Archive 586, The Johns Hopkins University,Department of Economics.
    3. Hervés-Beloso, Carlos & Moreno-García, Emma, 2009. "Walrasian analysis via two-player games," Games and Economic Behavior, Elsevier, vol. 65(1), pages 220-233, January.
    4. Koutsougeras, Leonidas C. & Ziros, Nicholas, 2011. "Non-Walrasian decentralization of the core," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 610-616.
    5. Khan, M. Ali Khan, 2007. "Perfect Competition," MPRA Paper 2202, University Library of Munich, Germany.
    6. Hara, C., 2004. "Existence of Equilibria and Core Convergence in Economies with Bads," Cambridge Working Papers in Economics 0413, Faculty of Economics, University of Cambridge.
    7. Charalambos Aliprantis & Kim Border & Owen Burkinshaw, 1996. "Market economies with many commodities," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 19(1), pages 113-185, March.
    8. Robert M. Anderson, 1994. "Convergence of the Aumann-Davis-Maschler and Geanakoplos Bargaining Sets," Game Theory and Information 9403002, University Library of Munich, Germany.
    9. Qin, Cheng-Zhong & Shapley, Lloyd S. & Shimomura, Ken-Ichi, 2006. "The Walras core of an economy and its limit theorem," Journal of Mathematical Economics, Elsevier, vol. 42(2), pages 180-197, April.
    10. M. Ali Khan & Metin Uyanik, 2021. "The Yannelis–Prabhakar theorem on upper semi-continuous selections in paracompact spaces: extensions and applications," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(3), pages 799-840, April.
    11. Inoue, Tomoki, 2014. "Indivisible commodities and an equivalence theorem on the strong core," Journal of Mathematical Economics, Elsevier, vol. 54(C), pages 22-35.
    12. Leonidas Koutsougeras, 2007. "From strategic to price taking behavior," Economics Discussion Paper Series 0717, Economics, The University of Manchester.
    13. Cordoba, Jose M. & Hammond, Peter J., 1998. "Asymptotically strategy-proof Walrasian exchange," Mathematical Social Sciences, Elsevier, vol. 36(3), pages 185-212, December.
    14. Anne van den Nouweland, 2011. "Comments on: Cooperative games and cost allocation problems," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 19(1), pages 29-32, July.
    15. Robert J. Aumann, 2007. "War and Peace," Chapters, in: Jean-Philippe Touffut (ed.), Augustin Cournot: Modelling Economics, chapter 5, Edward Elgar Publishing.
    16. Roberto Serrano & Oscar Volij, 2008. "Mistakes in Cooperation: the Stochastic Stability of Edgeworth's Recontracting," Economic Journal, Royal Economic Society, vol. 118(532), pages 1719-1741, October.
    17. Khan, M. Ali & Rath, Kali P. & Sun, Yeneng & Yu, Haomiao, 2013. "Large games with a bio-social typology," Journal of Economic Theory, Elsevier, vol. 148(3), pages 1122-1149.
    18. Vincenzo Scalzo, 2005. "Approximate social nash equilibria and applications," Quaderni DSEMS 03-2005, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    19. Trockel, Walter, 2011. "Core-equivalence for the Nash bargaining solution," Center for Mathematical Economics Working Papers 355, Center for Mathematical Economics, Bielefeld University.
    20. Kovalenkov, Alexander, 2002. "Simple Strategy-Proof Approximately Walrasian Mechanisms," Journal of Economic Theory, Elsevier, vol. 103(2), pages 475-487, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:373-381. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jmateco .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.