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Social loss with respect to the core of an economy

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  • Aldo Montesano

    () (Department of Economics, Bocconi University, via Sarfatti 25, I-20136 Milan, Italy)

Abstract

The dual notion of Pareto-efficiency (i.e., individual utilities cannot be reached with fewer resources than those of the allocation under consideration) is used in order to define the resources-core. A measure of social loss with respect to the core is then introduced, more or less as already done with respect to the locus of efficient allocations.

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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 19 (2002)
Issue (Month): 4 ()
Pages: 763-767

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Handle: RePEc:spr:sochwe:v:19:y:2002:i:4:p:763-767

Note: Received: 4 December 2000/Accepted: 14 June 2001
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