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Local envy-freeness and equal-income Walrasian allocations

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  • Cato, Susumu

Abstract

This paper introduces a local version of envy-freeness and investigates its implications in a continuum agent economy with connected preferences. We show that the set of locally envy-free and Pareto efficient allocations coincides with the set of equal-income Walrasian allocations.

Suggested Citation

  • Cato, Susumu, 2010. "Local envy-freeness and equal-income Walrasian allocations," Economics Letters, Elsevier, vol. 107(2), pages 239-241, May.
    • Handle: RePEc:eee:ecolet:v:107:y:2010:i:2:p:239-241
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    References listed on IDEAS

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    1. Feldman, Allan M & Kirman, Alan, 1974. "Fairness and Envy," American Economic Review, American Economic Association, vol. 64(6), pages 995-1005, December.
    2. Varian, Hal R., 1976. "Two problems in the theory of fairness," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 249-260.
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    6. Elisha A. Pazner & David Schmeidler, 1978. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 92(4), pages 671-687.
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    Cited by:

    1. Susumu Cato, 2020. "Compatibility of egalitarian equivalence and envy-freeness in a continuum-agent economy," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 8(1), pages 97-103, April.

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