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Title:Strong core equivalence theorem in an atomless economy with indivisible commodities PDF Logo
Authors:Inoue, Tomoki
Issue Date:2009
Series/Report no.:Working papers // Institute of Mathematical Economics 418
Abstract:We consider an atomless exchange economy with indivisible commodities. Every commodity can be consumed only in integer amounts. In such an economy, because of the indivisibility, the preference maximization does not imply the cost minimization. We prove that the strong core coincides with the set of cost-minimized Walras allocations which satisfy both the preference maximization and the cost minimization under the same price vector.
Subjects:Indivisible commodities
Core equivalence
Strong core
Cost-minimized Walras equilibrium
JEL:C71
D51
Persistent Identifier of the first edition:urn:nbn:de:hbz:361-14915
Document Type:Working Paper
Appears in Collections:Working Papers, Center for Mathematical Economics (IMW), Bielefeld University

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