AbstractAt a Nash - Walras equilibrium, individuals exchange commodities competitively, and, simultaneously, they interact strategically. Under standard assumptions, NashWalras equilibria exist, equilibrium profiles of actions are, typically, determinate but Pareto suboptimal, though not constrained Pareto suboptimal: a transfer of revenue need not suffice for a Pareto improvement in welfare.
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Bibliographic InfoArticle provided by Elsevier in its journal Research in Economics.
Volume (Year): 51 (1997)
Issue (Month): 1 (April)
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Web page: http://www.elsevier.com/locate/inca/622941
Other versions of this item:
- GHOSAL, Sayantan & POLEMARCHAKIS , Heracles, 1995. "Nash-Walras equilibria," CORE Discussion Papers 1995080, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Ghosal, S. & Polemarchakis, H.M., . "Nash-Walras equilibria," CORE Discussion Papers RP -1260, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
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- Andrés Carvajal, 2003.
"Testable Restrictions og General Equilibrium Theory in Exchange Economies with Externalities,"
BORRADORES DE ECONOMIA
003556, BANCO DE LA REPÚBLICA.
- Andrés Carvajal, . "Testable Restrictions of General Equilibrium Theory in Exchange Economies with Externalities," Borradores de Economia 231, Banco de la Republica de Colombia.
- Andrés Carvajal, 2004. "Testable Restrictions of General Equilibrium Theory in Exchange Economies with Externalities," Royal Holloway, University of London: Discussion Papers in Economics 04/28, Department of Economics, Royal Holloway University of London, revised Nov 2004.
- Deb, Rahul, 2008. "Interdependent Preferences, Potential Games and Household Consumption," MPRA Paper 6818, University Library of Munich, Germany.
- MINELLI, Enrico & POLEMARCHAKIS, Heracles, 1999. "Nash-Walras equilibria of a large economy," CORE Discussion Papers 1999043, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Deb, Rahul, 2009. "A testable model of consumption with externalities," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1804-1816, July.
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