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On a three way equivalence

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Author Info
KOUTSOUGERAS, L.C.
Abstract

In view of the well known core equivalence results in atomless economies, coincidence of market game equilibrium allocations with competitive allocations is tantamount to a three way equivalence between market game mechanisms, competitive equilibria and the core. Based on this idea I propose an equilibrium refinement of market games which allows me to use the core equivalence machinery to provide an exact market game characterization of competitive equilibria.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1998009.

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Date of creation: 01 Jan 1998
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Handle: RePEc:cor:louvco:1998009

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. MERTENSÊ, Jean-Franois, 1996. "The limit-price mechanism," CORE Discussion Papers 1996050, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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  2. Peck, James & Shell, Karl & Spear, Stephen E., 1992. "The market game: existence and structure of equilibrium," Journal of Mathematical Economics, Elsevier, vol. 21(3), pages 271-299. [Downloadable!] (restricted)
  3. Anderson, Robert M., 1992. "The core in perfectly competitive economies," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 14, pages 413-457 Elsevier. [Downloadable!] (restricted)
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