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Pareto optima and equilibria when preferences are incompletely known

Listed author(s):
  • Carlier, G.
  • Dana, R.-A.
Registered author(s):

    An exchange economy in which agents have convex incomplete preferences defined by families of concave utility functions is considered. Sufficient conditions for the set of efficient allocations and equilibria to coincide with the set of efficient allocations and equilibria that result when each agent has a utility in her family are provided. Welfare theorems in an incomplete preferences framework therefore hold under these conditions and efficient allocations and equilibria are characterized by first order conditions.

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    File URL: http://www.sciencedirect.com/science/article/pii/S002205311300080X
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    Article provided by Elsevier in its journal Journal of Economic Theory.

    Volume (Year): 148 (2013)
    Issue (Month): 4 ()
    Pages: 1606-1623

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    Handle: RePEc:eee:jetheo:v:148:y:2013:i:4:p:1606-1623
    DOI: 10.1016/j.jet.2013.04.014
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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