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Consistent Solutions in Atomless Economies

William Thomson and Lin Zhou

Econometrica, 1993, vol. 61, issue 3, 575-87

Abstract: The authors consider the problem of allocating a bundle of commodities among a group of agents who are collectively entitled to them. It is proved that, for an atomless economy with possibly satiated preferences, any solution that is efficient, equitable, and consistent must select allocations that are supported by equal-budget Walrasian equilibria with slack. Copyright 1993 by The Econometric Society.

Date: 1993
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