EconPapers    
Economics at your fingertips  
 

Core Allocations Are Almost Utility-Maximal

Robert M Anderson

International Economic Review, 1990, vol. 31, issue 1, 1-9

Abstract: It is known that in large economies with strongly convex preferences, the commodity bundles agents receive at core allocations are near their demand sets. Without convexity, it is known that agents' bundles need not be near their demand sets, although these bundles are demand-like in the sense that they satisfy a perturbation of the definition of demand. In this paper, the author gives sufficient conditions to ensure that core allocations almost maximize utility over the agents' budget sets. Copyright 1990 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Date: 1990
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://links.jstor.org/sici?sici=0020-6598%2819900 ... O%3B2-W&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ier:iecrev:v:31:y:1990:i:1:p:1-9

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0020-6598

Access Statistics for this article

International Economic Review is currently edited by Harold L. Cole

More articles in International Economic Review from Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297. Contact information at EDIRC.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing () and ().

 
Page updated 2025-03-19
Handle: RePEc:ier:iecrev:v:31:y:1990:i:1:p:1-9