Measuring the set of blocking coalitions in infinite dimensional economies

Maria Graziano

Decisions in Economics and Finance, 2000, vol. 23, issue 2, 120 pages

Abstract: The classical core-Walras equivalence is investigated via the measurement of the set of blocking coalitions. In the framework of continuum economies with an infinite dimensional space of commodities, we find the measure of the set of coalitions that block a non-competitive Pareto optimal allocation. Then, from the relation between coalitions of a continuum economy with a finite number of types and fuzzy coalitions of an economy with finitely many agents, the previous results are translated as results on the measure of blocking fuzzy coalitions. Both results imply classically formulated core-Walras equivalence theorems. Finally, the measure of blocking "social communication structures" is determined.

Date: 2000-12-14
Note: Received: 10 December 1999
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