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Core allocations and small income transfers

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  • Anderson, Robert M.

Abstract

We show that, given any allocation f in the core of an exchange economy, we can find small income transfers and a Walrasian allocation relative to the transfers such that most agents are indifferent between f and . In addition, we can find small income transfers and an approximate Walrasian allocation relative to the transfers such that all agents are indifferent between and f.

Suggested Citation

  • Anderson, Robert M., 2010. "Core allocations and small income transfers," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 373-381, July.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:373-381
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    References listed on IDEAS

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    1. R.J. Aumann & S. Hart (ed.), 2002. "Handbook of Game Theory with Economic Applications," Handbook of Game Theory with Economic Applications, Elsevier, edition 1, volume 3, number 3.
    2. Robert M. Anderson, 1981. "Core Theory with Strongly Convex Preferences," Cowles Foundation Discussion Papers 578, Cowles Foundation for Research in Economics, Yale University.
    3. Anderson, Robert M, 1990. "Core Allocations Are Almost Utility-Maximal," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(1), pages 1-9, February.
    4. Robert M. Anderson & M. Ali Khan & Salim Rashid, 1982. "Approximate Equilibria with Bounds Independent of Preferences," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(3), pages 473-475.
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