Coincidence of the Mas-Colell bargaining set and the set of competitive equilibria in a continuum coalition production economy

Jiuqiang Liu () and Huihui Zhang ()
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Jiuqiang Liu: Xi’an University of Finance and Economics
Huihui Zhang: Central China Normal University

International Journal of Game Theory, 2016, vol. 45, issue 4, No 15, 1095-1109

Abstract: Abstract Mas-Colell (J Math Econ 18:129–139, 1989) proved that the bargaining set and the set of competitive allocations coincide in an exchange economy with a continuum of traders under some standard assumptions. We extend this result to continuum coalition production economies and prove that the bargaining set and the set of competitive allocations coincide in a coalition production economy with a continuum of traders under some standard assumptions. As a consequence, we obtain a coincidence theorem for the core and the set of competitive allocations in a coalition production economy which extends the well-known coincidence theorem by Aumann (Econometrica 32:39–50, 1964).

Keywords: Bargaining sets; Cores; Competitive equilibrium; Coalition production economy; Exchange economy (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (9)

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DOI: 10.1007/s00182-015-0511-9

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