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Consistency and the Walrasian...
Consistency and the Walrasian allocations correspondence
Nir Dagan
[Abstract]
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Abstract
We characterize the Walrasian allocations correspondence by means of
consistency requirements and other axioms. We present two characterization
results; both require consistency, converse consistency and standard axioms.
One of them requires the allocations to be envy free (with respect to trades)
and the other--stable with respect to bilateral recontracting. The characterizations
hold in classes of exchange economies with smooth and convex preferences, and also on
domains with a finite number of potential agents.
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Cited by
- Anne van den Nouweland, Bezalel Peleg, and Stef Tijs,
Axiomatic characterizations of the Walras correspondence for generalized economies,
Journal of Mathematical Economics 25:355-372 (1996)
- James Schummer and William Thomson,
Two derivations of the uniform rule and an application to bankruptcy,
Economics Letters 55:333-337 (1997)
- Roberto Serrano and Oscar Volij,
Axiomatizations of neoclassical concepts for economies,
Journal of Mathematical Economics 30:87-108 (1998)
- Bernd Korthues,
Characterization of an extended Walrasian concept for open economies
Journal of Mathematical Economics 33:449-461 (2000)