A Concrete Example of the Transfer Problem with Multiple Equilibria

Minwook Kang
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Minwook Kang: Division of Economics, School of Humanities and Social Sciences, Nanyang Technological University, 14 Nanyang Drive, Singapore 637332

No 1504, Economic Growth Centre Working Paper Series from Nanyang Technological University, School of Social Sciences, Economic Growth Centre

Abstract: This paper presents a constructive example of the Balasko-type (1978, 2014) two-agent transfer problem, based on Shapley and Shubik (1977)'s example of a smooth trading economy with three competitive equilibria.

Keywords: Transfer problem; multiple equilibria; unstable equilibrium (search for similar items in EconPapers)
JEL-codes: D5 F1 F4 O1 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2015-08
New Economics Papers: this item is included in nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:nan:wpaper:1504

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