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Efficient Pareto-improving Processes

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Author Info
Kwan Koo Yun

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Abstract

We give two procedures for determining whether efficient Pareto improving local changes are possible. When they are, the procedures compute for them. Any procedure generating efficient and Pareto improving changes can be replicated by these procedures. The two programs form a striking duality. We apply the procedures to Pareto improving exchange processes, Pareto-improving tariff-tax reforms and to the problem of constrained Pareto optimum where informational constraints are present.

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Publisher Info
Paper provided by Econometric Society in its series Econometric Society 2004 Far Eastern Meetings with number 784.

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Date of creation: 11 Aug 2004
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Handle: RePEc:ecm:feam04:784

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Related research
Keywords: Pareto improvement; constrained Pareto optimum;

Find related papers by JEL classification:
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation

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  1. Yun, Kwan Koo, 1995. "Structure of Distortion Equilibria and Welfare in a Multiregional Economy," Economic Theory, Springer, vol. 5(3), pages 491-512, May.
  2. Yun, Kwan Koo, 1995. "The Dubovickii-Miljutin Lemma and characterizations of optimal allocations in non-smooth economies," Journal of Mathematical Economics, Elsevier, vol. 24(5), pages 435-460. [Downloadable!] (restricted)
  3. Guesnerie, Roger, 1975. "Pareto Optimality in Non-Convex Economies," Econometrica, Econometric Society, vol. 43(1), pages 1-29, January. [Downloadable!] (restricted)
  4. Rogerson, William P, 1985. "The First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 53(6), pages 1357-67, November. [Downloadable!] (restricted)
  5. Tirole, J. & Guesnerie, R., 1981. "Tax reform from the gradient projection viewpoint," Journal of Public Economics, Elsevier, vol. 15(3), pages 275-293, June. [Downloadable!] (restricted)
  6. Guesnerie, Roger, 1977. "On the direction of tax reform," Journal of Public Economics, Elsevier, vol. 7(2), pages 179-202, April. [Downloadable!] (restricted)
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  7. d'Aspremont, Claude & Tulkens, Henry, 1980. "Commodity Exchanges as Gradient Processes," Econometrica, Econometric Society, vol. 48(2), pages 387-99, March. [Downloadable!] (restricted)
  8. Jewitt, Ian, 1988. "Justifying the First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 56(5), pages 1177-90, September. [Downloadable!] (restricted)
  9. Dixit, Avinash, 1987. "On Pareto-improving redistributions of aggregate economic gains," Journal of Economic Theory, Elsevier, vol. 41(1), pages 133-153, February. [Downloadable!] (restricted)
  10. Cornet, B., 1986. "The second welfare theorem in nonconvex economies," CORE Discussion Papers 1986030, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Tulkens, Henry & Zamir, Shmuel, 1979. "Surplus-sharing Local Games in Dynamic Exchange Processes," Review of Economic Studies, Blackwell Publishing, vol. 46(2), pages 305-13, April. [Downloadable!] (restricted)
  12. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April. [Downloadable!] (restricted)
  13. Weymark, John A., 1981. "Undominated directions of tax reform," Journal of Public Economics, Elsevier, vol. 16(3), pages 343-369, December. [Downloadable!] (restricted)
  14. Turunen-Red, Arja H & Woodland, Alan D, 1991. "Strict Pareto-Improving Multilateral Reforms of Tariffs," Econometrica, Econometric Society, vol. 59(4), pages 1127-52, July. [Downloadable!] (restricted)
  15. Grossman, Sanford J & Hart, Oliver D, 1983. "An Analysis of the Principal-Agent Problem," Econometrica, Econometric Society, vol. 51(1), pages 7-45, January. [Downloadable!] (restricted)
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