OUTCOME FUNCTIONS YIELDING WALRASIAN ALLOCATIONS AT NASH EQUILIBRIUM POINTS IN A PRIVATE OWNERSHIP ECONOMY

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概要

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• It is known that the outcome function realizing Walrasian equilibrium correspondence can easily be constructed provided an auctioneer is permitted. Schmeidler and Hurwicz have shown that, even if an auctioneer is not permitted, there are some mechanisms implementing Walras correspondence. Their formulations were restricted, however, to the cases of pure exchange economy. In this note, we construct mechanisms which implement Walras correspondence in a private ownership economy which is not particularly restricted to the pure exchange economy. In these mechanisms prices are set by firms or consumers and no auctioneer is required.

• 慶應義塾大学の論文
• 1984-00-00

著者

• Nakamura Shinsuke

  Agricultural Economics The Kieo Economic Society Keio University

関連論文

• A BALANCED OUTCOME FUNCTION YIELDING PARETO OPTIMAL ALLOCATIONS AT NASH EQUILIBRIUM POINTS IN THE PRESENCE OF EXTERNALITIES: A CASE OF LINEAR PRODUCTION FUNCTION
• OUTCOME FUNCTIONS YIELDING WALRASIAN ALLOCATIONS AT NASH EQUILIBRIUM POINTS IN A PRIVATE OWNERSHIP ECONOMY

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