On f-core equivalence with general widespread externalities
Second version: November, 1995. This paper partially extends the f-core equivalence theorem of Hammond, Kaneko and Wooders  for continuum economies with widespread externalities --- i.e., those over which each individual has negligible control. Externalities need not result directly from trading activities. Neither free disposal of divisible goods nor monotone preferences are assumed. Instead, a slightly strengthened form of local non-satiation suffices. However, in general it is proved only that any f-core allocation is a weak Nash--Walrasian equilibrium. Finally, the proof uses an elementary argument which does not rely on Lyapunov's theorem or convexity of the integral of a correspondence w.r.t. a non-atomic measure.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
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.:
- P.J. Hammond, 2007.
"History: Sunk Cost, or Widespread Externality?,"
Rivista Internazionale di Scienze Sociali,
Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 115(2), pages 161-185.
- Hammond, Peter J., 2007. "History : Sunk Cost, or Widespread Externality?," The Warwick Economics Research Paper Series (TWERPS) 808, University of Warwick, Department of Economics.
- Hammond, Peter J. & Kaneko, Mamoru & Wooders, Myrna Holtz, 1989. "Continuum economies with finite coalitions: Core, equilibria, and widespread externalities," Journal of Economic Theory, Elsevier, vol. 49(1), pages 113-134, October.
- Peter Hammond, 1995. "Four Characterizations Of Constrained Pareto Efficiency In Continuum Economies With Widespread Externalities," The Japanese Economic Review, Japanese Economic Association, vol. 46(2), pages 103-124, 06.
- Yamazaki, Akira, 1978. "An Equilibrium Existence Theorem without Convexity Assumptions," Econometrica, Econometric Society, vol. 46(3), pages 541-55, May.
- M Ali Khan & Kali P Rath & Yeneng Sun, 1994.
"On the Existence of Pure Strategy Equilibria in Games with a Continuum of Players,"
Economics Working Paper Archive
381, The Johns Hopkins University,Department of Economics, revised Feb 1997.
- Khan, M. Ali & Rath, Kali P. & Sun, Yeneng, 1997. "On the Existence of Pure Strategy Equilibria in Games with a Continuum of Players," Journal of Economic Theory, Elsevier, vol. 76(1), pages 13-46, September.
- Ali Khan, M. & Yamazaki, Akira, 1981. "On the cores of economies with indivisible commodities and a continuum of traders," Journal of Economic Theory, Elsevier, vol. 24(2), pages 218-225, April.
- Yamazaki, Akira, 1981. "Diversified Consumption Characteristics and Conditionally Dispersed Endowment Distribution: Regularizing Effect and Existence of Equilibria," Econometrica, Econometric Society, vol. 49(3), pages 639-54, May.
- Balder, E. J., 1996. "Comments on the existence of equilibrium distributions," Journal of Mathematical Economics, Elsevier, vol. 25(3), pages 307-323.
When requesting a correction, please mention this item's handle: RePEc:eee:mateco:v:32:y:1999:i:2:p:177-184. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If references are entirely missing, you can add them using this form.