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|
|Date of revision:|
|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/|
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.:
- Aubin, Jean-Pierre, 1991. "Evolution of viable allocations," Journal of Economic Behavior & Organization, Elsevier, vol. 16(1-2), pages 183-215, July.
- Ghiglino, Christian & Tvede, Mich, 2000.
"Optimal Policy in OG Models,"
Journal of Economic Theory,
Elsevier, vol. 90(1), pages 62-83, January.
- Ghiglino, C. & Tvede, M., 1999. "Optimal Policy in OG Models," Papers 99-23, Carleton - School of Public Administration.
- Christian Ghiglino & Mich Tvede, 1999. "Optimal Policy in OG Models," Discussion Papers 99-23, University of Copenhagen. Department of Economics.
- Ghiglino, Christian & Tvede, Mich, 1998. "Optimal policy in OG models," Working Papers 08-1998, Copenhagen Business School, Department of Economics.
- Jean-Michel Courtault & Bertrand Crettez & Naila Hayek, 2007. "A Note On Luenberger'S Zero-Maximum Principle For Core Allocations," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 453-460.
- Jean-Michel Courtault & Jean-Marc Tallon, 2000.
"Allais' trading process and the dynamic evolution of a market economy,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
- Jean-Marc Tallon & Jean-Michel Courtault, 2000. "Allais' trading process and the dynamic evolution of a market economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 16(2), pages 477-481.
- Allard, Marie & Bronsard, Camille & Richelle, Ives, 1989. "Temporary pareto optimum theory," Journal of Public Economics, Elsevier, vol. 38(3), pages 343-368, April.
When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00448184. 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: (CCSD)
If references are entirely missing, you can add them using this form.