Manipulation-proof equilibrium in atomless economies with commodity differentiation
AbstractIn this paper, we introduce a perfect competition test which checks the incentives of arbitrarily small coalitions to behave strategically in endowments and preferences. We apply this coalitional incentive compatibility test to atomless economies with a continuum of differentiated commodities. We show that, under thickness conditions, economies with a finite number of types and economies whose set of agents' preferences is compact, pass this perfect competition test. Limiting results for replica economies are also presented.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 14 (1999)
Issue (Month): 3 ()
Note: Received: July 25, 1997; revised version: December 5, 1998
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Find related papers by JEL classification:
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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- Hervés-Beloso, Carlos & Moreno-Garcia, Emma, 2008. "Competitive equilibria and the grand coalition," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 697-706, July.
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