IDEAS home Printed from https://ideas.repec.org/a/spr/reecde/v9y2005i3p227-269.html
   My bibliography  Save this article

Externalities do not necessarily require larger message spaces for realizing pareto-efficient allocations

Author

Listed:
  • Hiroaki Osana

    ()

Abstract

Classes of economies with consumption externalities and decisive, nonwasteful, and informationally decentralized allocation mechanisms on classes including these classes of economies are constructed. The informational size of the message spaces is shown to be minimal among the message spaces used by any allocation mechanisms with the same properties on the same class of economies. The message spaces are shown to be as large as $n(\ell - 1)$ -dimensional Euclidean space, where n is the number of economic agents and $\ell$ is the number of commodities. The presence of consumption externalities does not necessarily require larger message spaces for realizing Pareto-efficiency. Copyright Springer-Verlag Berlin/Heidelberg 2005

Suggested Citation

  • Hiroaki Osana, 2005. "Externalities do not necessarily require larger message spaces for realizing pareto-efficient allocations," Review of Economic Design, Springer;Society for Economic Design, vol. 9(3), pages 227-269, August.
  • Handle: RePEc:spr:reecde:v:9:y:2005:i:3:p:227-269
    DOI: 10.1007/s10058-005-0129-7
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10058-005-0129-7
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:reecde:v:9:y:2005:i:3:p:227-269. 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: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.springer.com .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.