Stochastic Blocking and Core Convergence in Nonconvex Production Economies
AbstractIn production economies, the extent to which non-equilibria are blocked depends on specific rules that allocate authority among shareholders, because a blocking coalition's resources are affected by the firms it jointly owns with outsiders. Based on a notion of stochastic blocking, we extend Anderson's (1978) core convergence theorem to production economies where preferences and technologies are not necessarily convex.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12711.
Date of creation: 21 Jan 2007
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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More information through EDIRC
core; coalition; production; blocking; core convergence; nonconvexity; stochastic blocking;
Find related papers by JEL classification:
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-28 (All new papers)
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.:
- Xiong, Siyang & Zheng, Charles Zhoucheng, 2007.
"Core equivalence theorem with production,"
Journal of Economic Theory, Elsevier,
Elsevier, vol. 137(1), pages 246-270, November.
- Xiong, Siyang & Zheng, Charles Zhoucheng, 2007. "Core Equivalence Theorem with Production," Staff General Research Papers, Iowa State University, Department of Economics 12697, Iowa State University, Department of Economics.
- Anderson, Robert M, 1978. "An Elementary Core Equivalence Theorem," Econometrica, Econometric Society, Econometric Society, vol. 46(6), pages 1483-87, November.
- Haller, Hans, 1991. "Corporate Production and Shareholder Cooperation under Uncertainty," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(4), pages 823-42, November.
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