On the dimensionality of bounds generated by the Shapley–Folkman theorem
The Shapley–Folkman theorem places a scalar upper bound on the distance between a sum of non-convex sets and its convex hull. We observe that some information is lost when a vector is converted to a scalar to generate this bound and propose a simple normalization of the underlying space which mitigates this loss of information. As an example, we apply this result to the Anderson (1978) core convergence theorem, and demonstrate how our normalization leads to an intuitive, unitless upper bound on the discrepancy between an arbitrary core allocation and the corresponding competitive equilibrium allocation.
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.:
- Anderson, Robert M, 1978. "An Elementary Core Equivalence Theorem," Econometrica, Econometric Society, vol. 46(6), pages 1483-87, November.
- Starr, Ross M, 1969. "Quasi-Equilibria in Markets with Non-Convex Preferences," Econometrica, Econometric Society, vol. 37(1), pages 25-38, January.
- Starr,Ross M., 2011. "General Equilibrium Theory," Cambridge Books, Cambridge University Press, number 9780521826457.
- Anderson, Robert M, 1982. "A Market Value Approach to Approximate Equilibria," Econometrica, Econometric Society, vol. 50(1), pages 127-36, January.
- Starr,Ross M., 2011. "General Equilibrium Theory," Cambridge Books, Cambridge University Press, number 9780521533867.
When requesting a correction, please mention this item's handle: RePEc:eee:mateco:v:48:y:2012:i:1:p:59-63. 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: (Zhang, Lei)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.