Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/146152
Authors: 
Mendolicchio, Concetta
Pietra, Tito
Year of Publication: 
2016
Series/Report no.: 
IAB-Discussion Paper 12/2016
Abstract: 
We establish that, when the number of agents is sufficiently large, but finite, there are open sets of economies with constrained Pareto inefficient equilibria, and provide a simple sufficient condition for CP inefficiency. We also show that there are open sets of economies with CPO equilibria.
Abstract (Translated): 
Wir zeigen, dass, wenn die Zahl der Agenten ausreichend groß, aber endlich ist, offene Sets an Ökonomien mit eingeschränkter Paret-Effizienz (CP) existieren und bieten eine einfache hinreichende Bedingung für CP-Ineffizienz. Wir zeigen auch, dass offene Sets an Ökonomien mit CPO-Gleichgewichten existieren.
Subjects: 
GEI
constrained Pareto inefficiency
numeraire assets
JEL: 
D51
D52
Document Type: 
Working Paper

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