Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43781
Authors: 
Inoue, Tomoki
Year of Publication: 
2009
Series/Report no.: 
Working papers // Institute of Mathematical Economics 417
Abstract: 
We consider a pure exchange economy with finitely many indivisible commodities that are available only in integer quantities. We prove that in such an economy with a sufficiently large number of agents, but finitely many agents, the strong core coincides with the set of cost-minimized Walras allocations. Because of the indivisibility, the preference maximization does not imply the cost minimization. A cost-minimized Walras equilibrium is a state where, under some price vector, all agents satisfy both the preference maximization and the cost minimization.
Subjects: 
Indivisible commodities
Strong core
Cost-minimized Walras equilibrium
Core equivalence
JEL: 
C71
D51
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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