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General Equilibrium and Market Socialism: Clarifying the Logic of Competitive Markets

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  • Louis Makowski

    (UC Davis)

  • Joseph M. Ostroy

    (UCLA)

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  • Louis Makowski & Joseph M. Ostroy, 1992. "General Equilibrium and Market Socialism: Clarifying the Logic of Competitive Markets," UCLA Economics Working Papers 672, UCLA Department of Economics.
    • Handle: RePEc:cla:uclawp:672
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    File URL: http://www.econ.ucla.edu/workingpapers/wp672.pdf
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    References listed on IDEAS

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    1. Roger B. Myerson, 1988. "Mechanism Design," Discussion Papers 796, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    2. Makowski, Louis & Ostroy, Joseph M., 1992. "Vickrey-Clarke-Groves mechanisms in continuum economies : Characterization and existence," Journal of Mathematical Economics, Elsevier, vol. 21(1), pages 1-35.
    3. Walker, Mark, 1980. "On the Nonexistence of a Dominant Strategy Mechanism for Making Optimal Public Decisions," Econometrica, Econometric Society, vol. 48(6), pages 1521-1540, September.
    4. Green, Jerry & Laffont, Jean-Jacques, 1977. "Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods," Econometrica, Econometric Society, vol. 45(2), pages 427-438, March.
    5. Holmstrom, Bengt, 1979. "Groves' Scheme on Restricted Domains," Econometrica, Econometric Society, vol. 47(5), pages 1137-1144, September.
    6. Louis Makowski & Joseph M. Ostroy, 1991. "The Margin of Appropriation and an Extension of the First Theorem of Welfare Economists," UCLA Economics Working Papers 629, UCLA Department of Economics.
    7. Makowski, Louis, 1980. "A characterization of perfectly competitive economies with production," Journal of Economic Theory, Elsevier, vol. 22(2), pages 208-221, April.
    8. Makowski, Louis & Ostroy, Joseph M., 1987. "Vickrey-Clarke-Groves mechanisms and perfect competition," Journal of Economic Theory, Elsevier, vol. 42(2), pages 244-261, August.
    9. Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
    10. Makowski Louis & Mezzetti Claudio, 1993. "The Possibility of Efficient Mechanisms for Trading an Indivisible Object," Journal of Economic Theory, Elsevier, vol. 59(2), pages 451-465, April.
    11. Walker, Mark, 1978. "A Note on the Characterization of Mechanisms for the Revelation of Preferences," Econometrica, Econometric Society, vol. 46(1), pages 147-152, January.
    12. Green, Jerry & Laffont, Jean-Jacques, 1977. "On the revelation of preferences for public goods," Journal of Public Economics, Elsevier, vol. 8(1), pages 79-93, August.
    13. A. P. Lerner, 1934. "Economic Theory and Socialist Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 2(1), pages 51-61.
    14. Louis Makowski & Joseph M. Ostroy, 1991. "An Arbitrage Approach to Competitive Equilibruim in an Exchange Economy," UCLA Economics Working Papers 649, UCLA Department of Economics.
    15. Hurwicz, Leonid & Walker, Mark, 1990. "On the Generic Nonoptimality of Dominant-Strategy Allocation Mechanisms: A General Theorem That Includes Pure Exchange Economies," Econometrica, Econometric Society, vol. 58(3), pages 683-704, May.
    16. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
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    Cited by:

    1. Athreya, Kartik B., 2014. "Big Ideas in Macroeconomics: A Nontechnical View," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262019736, December.
    2. Roger Myerson, 2009. "Fundamental theory of institutions: a lecture in honor of Leo Hurwicz," Review of Economic Design, Springer;Society for Economic Design, vol. 13(1), pages 59-75, April.

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