|
EconStor >
Universität Bielefeld >
Institute of Mathematical Economics (IMW), Universität Bielefeld >
Working Papers, Institute of Mathematical Economics, Universität Bielefeld >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/43820
|
| | |
| Title: | | Core allocations may not be Walras allocations in any large finite economy with indivisible commodities  |
| Authors: | | Inoue, Tomoki |
| Issue Date: | | 2009 |
| Series/Report no.: | | Working papers // Institute of Mathematical Economics 419 |
| Abstract: | | We consider an exchange economy where every commodity can be consumed only in integer amounts. Inoue [Inoue, T., 2005. Do pure indivisibilities prevent core equivalence? Core equivalence theorem in an atomless economy with purely indivisible commodities only. Journal of Mathematical Economics 41, 571-601] proved that in such an economy with a continuum of agents, the core coincides with the set of Walras allocations. We show that this equivalence holds only in an atomless economy by giving two examples of the sequence of replica economies such that in any replica economy, there exists a core allocation that is not a Walras allocation. |
| Subjects: | | Indivisible commodities Core Walras equilibrium Strong core Cost-minimized Walras equilibrium |
| JEL: | | C71 D51 |
| Persistent Identifier of the first edition: | | urn:nbn:de:hbz:361-14927 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Institute of Mathematical Economics, Universität Bielefeld
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/43820
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|