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Efficiency, egalitarianism, stability and social welfare in infinite dimensional economies

Author

Listed:
  • Elvio Accinelli-Gamba

    () (Facultad de Economía, UASLP and DECON Facultad de Ciencias Sociales de la Universidad de la República. San Luis Potosí. México.)

  • Leobardo Plata-Pérez

    () (Facultad de Economía, UASLP. San Luis Potosí. México.)

  • Joss Sánchez-Pérez

    () (Facultad de Economía, UASLP. San Luis Potosí. México.)

Abstract

In the framework of general equilibrium theory, this paper considers the existing relationship between the concepts of egalitarianism, efficiency and fairness, in a pure exchange economy with infinitely many goods. We consider the possibility of achieving an efficient egalitarian allocation in a decentralized way. Finally we introduce an index to measure the degree of inequality in a given economy.

Suggested Citation

  • Elvio Accinelli-Gamba & Leobardo Plata-Pérez & Joss Sánchez-Pérez, 2014. "Efficiency, egalitarianism, stability and social welfare in infinite dimensional economies," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(1), pages 1-26, May.
  • Handle: RePEc:ere:journl:v:xxxiii:y:2014:i:1:p:1-26
    as

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    File URL: http://www.economia.uanl.mx/revistaensayos/xxxiii/1/Efficiency_egalitarianism_stability_and_social_welfare_in_infinite_dimensional_economies.pdf
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    References listed on IDEAS

    as
    1. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-1630, October.
    2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    3. repec:adr:anecst:y:1997:i:48 is not listed on IDEAS
    4. Sen, Amartya K, 1977. "On Weights and Measures: Informational Constraints in Social Welfare Analysis," Econometrica, Econometric Society, vol. 45(7), pages 1539-1572, October.
    5. A. S. Pinto Barbosa & Boyan Jovanovic & Mark M. Spiegel, 1997. "Inequality and Stability," Annals of Economics and Statistics, GENES, issue 48, pages 15-40.
    6. Roth, Alvin E, 1979. "Proportional Solutions to the Bargaining Problem," Econometrica, Econometric Society, vol. 47(3), pages 775-777, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Fairness; efficiency; economic welfare;

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D6 - Microeconomics - - Welfare Economics

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