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Implementation Of The Walrasian Correspondence By Market Games

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Author Info

  • Luis Corchón

    ()
    (Universidad de Alicante)

  • Simon Wilkie

    (California Institute of Technology)

Abstract

In this paper we present a set of axioms guaranteeing that, in exchange economies with or without indivisible goods, the set of Nash, Strong and active Walrasian Equilibria all coincide in the framework of market games.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1995-02.pdf
File Function: Fisrt version / Primera version, 1995
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1995-02.

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Length: 28 pages
Date of creation: Jan 1995
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:1995-02

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Keywords: Mechanism; Market Games; Nash Equilibrium; Strong Equilibrium; Implementation.;

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References

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  1. Benassy Jean-pascal, 1984. "On competitive market mechanism," CEPREMAP Working Papers (Couverture Orange) 8407, CEPREMAP.
  2. Miguel Ginés Vilar & Francisco Marhuenda, 1995. "Cost Monotonic Mecanisms," Working Papers. Serie AD 1995-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Demange, Gabrielle & Gale, David, 1985. "The Strategy Structure of Two-sided Matching Markets," Econometrica, Econometric Society, vol. 53(4), pages 873-88, July.
  4. Hart, Oliver D., 1980. "Perfect competition and optimal product differentiation," Journal of Economic Theory, Elsevier, vol. 22(2), pages 279-312, April.
  5. Luis Corchón & Simon Wilkie, 1990. "Doubly implementing the ratio correspondence with a "natural" mechanism," Working Papers. Serie AD 1990-03, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  6. Postlewaite, Andrew & Wettstein, David, 1989. "Feasible and Continuous Implementation," Review of Economic Studies, Wiley Blackwell, vol. 56(4), pages 603-11, October.
  7. Svensson, Lars-Gunnar, 1991. "Nash Implementation of Competitive Equilibria in a Model with Indivisible Goods," Econometrica, Econometric Society, vol. 59(3), pages 869-77, May.
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  11. Kaneko, Mamoru & Yamamoto, Yoshitsugu, 1986. "The existence and computation of competitive equilibria in markets with an indivisible commodity," Journal of Economic Theory, Elsevier, vol. 38(1), pages 118-136, February.
  12. Bagnoli, Mark & Lipman, Barton L, 1989. "Provision of Public Goods: Fully Implementing the Core through Private Contributions," Review of Economic Studies, Wiley Blackwell, vol. 56(4), pages 583-601, October.
  13. Amparo Urbano Salvador & María Dolores Alepuz Domenech, 1994. "Market learning and price-dispersion," Working Papers. Serie AD 1994-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  14. Schmeidler, David, 1980. "Walrasian Analysis via Strategic Outcome Functions," Econometrica, Econometric Society, vol. 48(7), pages 1585-93, November.
  15. Tadenuma, K. & Thompson, W., 1989. "No-Envy, Consistency And Monotonicity In Economics With Indivisibilities," RCER Working Papers 178, University of Rochester - Center for Economic Research (RCER).
  16. Marhuenda, F, 1995. "Distribution of Income and Aggregation of Demand," Econometrica, Econometric Society, vol. 63(3), pages 647-66, May.
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  18. Mamoru Kaneko, 1980. "Housing Market with Indivisibility," Cowles Foundation Discussion Papers 571, Cowles Foundation for Research in Economics, Yale University.
  19. Hurwicz, Leonid, 1979. "On allocations attainable through Nash equilibria," Journal of Economic Theory, Elsevier, vol. 21(1), pages 140-165, August.
  20. Antonio Villar Notario, 1991. "A "Classical" General Equilibrium Model," Working Papers. Serie AD 1991-11, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  21. Herrero, Carmen & Villar, Antonio, 1991. "Vector mappings with diagonal images," Mathematical Social Sciences, Elsevier, vol. 22(1), pages 57-67, August.
  22. Hahn, Frank, 1978. "On Non-Walrasian Equilibria," Review of Economic Studies, Wiley Blackwell, vol. 45(1), pages 1-17, February.
  23. Dubey, Pradeep, 1982. "Price-Quantity Strategic Market Games," Econometrica, Econometric Society, vol. 50(1), pages 111-26, January.
  24. Roth, Alvin E. & Sotomayor, Marilda, 1988. "Interior points in the core of two-sided matching markets," Journal of Economic Theory, Elsevier, vol. 45(1), pages 85-101, June.
  25. Nikolai S. Kukushkin, 1993. "Cournot Oligopoly With "Almost" Identical Convex Costs," Working Papers. Serie AD 1993-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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  28. Svensson, Lars-Gunnar, 1988. " Fair Wages When Individual Choice Sets Are Incomplete--An Application of a Model with Indivisibilities," Scandinavian Journal of Economics, Wiley Blackwell, vol. 90(4), pages 563-73.
  29. Silvestre, Joaquim, 1985. "Voluntary and Efficient Allocations Are Walrasian," Econometrica, Econometric Society, vol. 53(4), pages 807-16, July.
  30. Roth, Alvin E., 1982. "Incentive compatibility in a market with indivisible goods," Economics Letters, Elsevier, vol. 9(2), pages 127-132.
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Cited by:
  1. Bezalel Peleg, 1996. "Double implementation of the Lindahl equilibrium by a continuous mechanism," Review of Economic Design, Springer, vol. 2(1), pages 311-324, December.

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