A three way equivalence

Leonidas C. Koutsougeras and Nicholas Ziros

Journal of Economic Theory, 2008, vol. 139, issue 1, 380-391

Abstract: In view of the well known core equivalence results in atomless economies, coincidence of market game equilibrium allocations with competitive allocations is tantamount to a three way equivalence between market game mechanisms, competitive equilibria and the core. Based on this idea we study equilibrium refinements of market games, which allow us to use the core equivalence machinery in order to provide an exact market game characterization of competitive equilibria.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:139:y:2008:i:1:p:380-391

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