Transfer paradox in a stable equilibrium
Ram Dubey () and
Minwook Kang ()
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Minwook Kang: Nanyang Technological University
Economic Theory Bulletin, 2019, vol. 7, issue 2, No 8, 259-269
Abstract The transfer paradox describes the situation in which transfers of initial endowments within competitive market make the donor better off and (or) the recipient worse off. Advantageous redistribution, strong transfer paradox, and Chichilnisky paradox are the three cases of the transfer paradox in a stable equilibrium, wherein each case produces a different welfare outcome. This paper shows that the three paradoxes are concretely related by applying Kaldor welfare measure.
Keywords: Advantageous redistribution; Chichilnisky Paradox; Strong Paradox (search for similar items in EconPapers)
JEL-codes: D50 F20 (search for similar items in EconPapers)
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