Forced Trades in a Free Market

Marc Fleurbaey

A chapter in Individual and Collective Choice and Social Welfare, 2015, pp 227-252 from Springer

Abstract: Abstract A free trade is always Pareto-improving. But some “free trades” are actually forced in the sense that they reflect the trader’s poverty rather than his or her preferences. We propose a rigorous concept of forced trade, and apply it to the ethical evaluation of Walrasian equilibria.

Keywords: Competitive equilibrium; Constraint; Forced trade; Poverty; Preferences (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:stcchp:978-3-662-46439-7_14

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DOI: 10.1007/978-3-662-46439-7_14

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