Consistency and the Walrasian allocations correspondence
AbstractWe characterize the Walrasian allocations correspondence, in classes of exchange economies with smooth and convex preferences, by means of consistency requirements and other axioms. We present three characterization results; all of which require consistency, converse consistency and standard axioms. Two characterizations hold also on domains with a finite number of potential agents, one of them requires envy freeness (with respect to trades) and the other--core selection; a third characterization, that requires core selection, applies only to a variable number of agents domain, but is valid also when the domain includes only a small variety of preferences.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 151.
Date of creation: Jan 1996
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Other versions of this item:
- Nir Dagan, 1996. "Consistency and the Walrasian Allocations Correspondence," Economic theory and game theory 012, Nir Dagan.
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