Economics at your fingertips  

Allais' trading process and the dynamic evolution of a market economy

Jean-Marc Tallon () and Jean-Michel Courtault ()

Economic Theory, 2000, vol. 16, issue 2, 477-481

Abstract: We construct a simple trading process that is based on the maximization, at each stage, of the total distributable surplus. We show that this process converges to a Pareto optimal allocation.

Keywords: Trading process; Distributable surplus; Benefit function. (search for similar items in EconPapers)
JEL-codes: D00 D50 (search for similar items in EconPapers)
Date: 2000-07-14
Note: Received: February 1, 1999; revised version: June 24, 1999
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link) (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
Working Paper: Allais' trading process and the dynamic evolution of a market economy (2000)
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:

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2020-01-25
Handle: RePEc:spr:joecth:v:16:y:2000:i:2:p:477-481