Allais's Trading Process And The Dynamic Evolution of an OLG Markets Economy
We study a trading process for a pure exchange economy with overlapping generations. This process is based on the maximization, at each stage, of a collective benefit (or surplus). We show that this process converges to a Pareto-optimal allocation. This extends the second fundamental convergence theorem of Allais  to a pure exchange economy with overlapping generations.
|Date of creation:||2005|
|Publication status:||Published in Pelzer, Lawrence Z. Focus on Macroeconomics Research, Nova Science Publishers, pp.111-132, 2005|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00448184|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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