IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Allais's Trading Process And The Dynamic Evolution of an OLG Markets Economy

Listed author(s):
  • Jean-Michel Courtault


    (CEPN - Centre d'Economie de l'Université Paris Nord (ancienne affiliation) - UP13 - Université Paris 13 - CNRS - Centre National de la Recherche Scientifique)

  • Bertrand Crettez

    (LIBRE - Laboratoire interdisciplinaire bisontin de recherches économiques - M.E.N.E.S.R. - Ministère de l'Éducation nationale, de l’Enseignement supérieur et de la Recherche - UFC - Université de Franche-Comté)

  • Naïla Hayek


    (Marin Mersenne - Pour les Mathématiques, l'Informatique et l'Interdisciplinarité - UP1 - Université Panthéon-Sorbonne)

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 [1967] to a pure exchange economy with overlapping generations.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by HAL in its series Post-Print with number halshs-00448184.

in new window

Date of creation: 2005
Publication status: Published in Pelzer, Lawrence Z. Focus on Macroeconomics Research, Nova Science Publishers, pp.111-132, 2005
Handle: RePEc:hal:journl:halshs-00448184
Note: View the original document on HAL open archive server:
Contact details of provider: Web page:

References listed on IDEAS
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.:

in new window

  1. Ghiglino, Christian & Tvede, Mich, 2000. "Optimal Policy in OG Models," Journal of Economic Theory, Elsevier, vol. 90(1), pages 62-83, January.
  2. Allard, Marie & Bronsard, Camille & Richelle, Ives, 1989. "Temporary pareto optimum theory," Journal of Public Economics, Elsevier, vol. 38(3), pages 343-368, April.
  3. 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.
  4. Aubin, Jean-Pierre, 1991. "Evolution of viable allocations," Journal of Economic Behavior & Organization, Elsevier, vol. 16(1-2), pages 183-215, July.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

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 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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.