Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/217069
Authors: 
Tierney, Ryan
Year of Publication: 
2019
Citation: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 14 [Year:] 2019 [Issue:] 1 [Pages:] 15-38
Abstract: 
We identify a large subdomain, D, of quasilinear economies on which any efficient exchange rule will be generically (in the Baire sense) manipulable. For generic economies outside of D, we find rules that are locally non-manipulable. The interior of the set D consists of all economies in which competitive equilibrium would prescribe that all agents consume a positive quantity of money. Since we study quasilinear preferences, this is the domain of primary interest. Our locally non-manipulable rules rely on the existence of traders who are willing to sell all of their cash and absorb the imbalances in the trading of the commodity.
Subjects: 
Exchange
incentive compatibility
budget balance
JEL: 
D44
D47
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/4.0/
Document Type: 
Article

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