On the non-emptiness of the fuzzy core
The seminal contribution of Debreu-Scarf  connects the two concepts of core and competitive equilibrium in exchange economies. In effect, their core-equilibrium equivalence result states that, when the set of economic agents is replicated, the set of core allocations of the replica economy shrinks to the set of competitive allocations. Florenzano  defines the fuzzy core as the set of allocations which cannot be blocked by any coalition with an arbitrary rate of participation and then shows the asymptotic limit of cores of replica economies coincides with the fuzzy core. In this note, we provide an elementary proof of the non-emptiness of the fuzzy core for an exchange economy. Unlike the classical Debreu-Scarf limit theorem  and its numerous extensions our result does not require any asymptotic intersection -or limit- of the set of core allocations of replica economies.
(This abstract was borrowed from another version of this item.)
Volume (Year): 37 (2008)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/182/PS2|
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.:
- Florenzano Monique, 1988. "Edgeworth equilibria, fuzzy core and equilibria of a production economy without ordered preferences," CEPREMAP Working Papers (Couverture Orange) 8822, CEPREMAP.
- Shapley, Lloyd & Vohra, Rajiv, 1991. "On Kakutani's Fixed Point Theorem, the K-K-M-S Theorem and the Core of a Balanced Game," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(1), pages 108-116, January.
- Aliprantis, Charalambos D. & Brown, Donald J. & Burkinshaw, Owen, 1987. "Edgeworth equilibria in production economies," Journal of Economic Theory, Elsevier, vol. 43(2), pages 252-291, December.
- Bonnisseau, Jean-Marc & Iehle, Vincent, 2007.
"Payoff-dependent balancedness and cores,"
Games and Economic Behavior,
Elsevier, vol. 61(1), pages 1-26, October.
- Jean-Marc Bonnisseau & Vincent Iehle, 2004. "Payoffs-dependent Balancedness and Cores," Game Theory and Information 0403004, EconWPA.
- Jean-Marc Bonnisseau & Vincent Iehlé, 2007. "Payoff-dependent balancedness and cores," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00176203, HAL.
- Predtetchinski, Arkadi & Jean-Jacques Herings, P., 2004. "A necessary and sufficient condition for non-emptiness of the core of a non-transferable utility game," Journal of Economic Theory, Elsevier, vol. 116(1), pages 84-92, May.
- Herings P. Jean-Jacques & Predtetchinski Arkadi, 2002. "A Necessary and Sufficient Condition for Non--emptiness of the Core of a Non--transferable Utility Game," Research Memorandum 016, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Aliprantis, Charalambos D & Brown, Donald J & Burkinshaw, Owen, 1987. "Edgeworth Equilibria," Econometrica, Econometric Society, vol. 55(5), pages 1109-1137, September.
- Nizar Allouch & Arkadi Predtetchinski, 2008. "On the non-emptiness of the fuzzy core," International Journal of Game Theory, Springer;Game Theory Society, vol. 37(2), pages 203-210, June.
- Allouch Nizar & Predtetchinski Arkadi, 2005. "On the non-emptiness of the fuzzy core," Research Memorandum 002, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Nizar Allouch & Arkadi Predtetchinski, 2005. "On the Non-emptiness of the Fuzzy Core," Working Papers 531, Queen Mary University of London, School of Economics and Finance.
- Arkadi Predtetchinski, 2005. "The fuzzy core and the $(\Pi, \beta)$ -balanced core," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(3), pages 717-724, October.
- Predtetchinski,Arkadi, 2004. "The Fuzzy Core and the (Π, β)- Balanced Core," Research Memorandum 025, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Herves-Beloso, Carlos & Moreno-Garcia, Emma & Yannelis, Nicholas C., 2005. "An equivalence theorem for a differential information economy," Journal of Mathematical Economics, Elsevier, vol. 41(7), pages 844-856, November. Full references (including those not matched with items on IDEAS)