Exchange and Optimality
AbstractA social state is irreducible if, and only if for any non-trivial partition of individuals with two groups, there exists another feasible social state at which every individual in the first group is equally well-off and someone strictly better-off. Competitive equilibria decentralize irreducible Pareto optimal social states.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1994072.
Date of creation: 01 Dec 1994
Date of revision:
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More information through EDIRC
social states; optimality; exchange;
Other versions of this item:
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D60 - Microeconomics - - Welfare Economics - - - General
- D62 - Microeconomics - - Welfare Economics - - - Externalities
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- Murty, Sushama, 2010.
"Externalities and fundamental nonconvexities: A reconciliation of approaches to general equilibrium externality modeling and implications for decentralization,"
Journal of Economic Theory,
Elsevier, vol. 145(1), pages 331-353, January.
- Murty, Sushama, 2006. "Externalities and Fundamental Nonconvexities : A Reconciliation of Approaches to General Equilibrium Externality Modelling and Implications for Decentralization," The Warwick Economics Research Paper Series (TWERPS) 756, University of Warwick, Department of Economics.
- repec:hal:wpaper:halshs-00531434 is not listed on IDEAS
- repec:hal:journl:halshs-00367867 is not listed on IDEAS
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