Endowment redistribution and Pareto improvements in GEI economies

Concetta Mendolicchio and Tito Pietra

Journal of Mathematical Economics, 2016, vol. 67, issue C, 181-190

Abstract: With incomplete markets and numeraire assets, there are open sets of economies such that their equilibrium allocations can be improved upon by a reallocation of period zero endowments. This strengthens the classical results on constrained Pareto inefficiency of equilibria in GEI.

Keywords: GEI; Constrained Pareto optimality (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (4)

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Working Paper: Endowment redistribution and Pareto improvements in GEI economies (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:67:y:2016:i:c:p:181-190

DOI: 10.1016/j.jmateco.2016.08.006

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