On a three way equivalence

Leonidas C. Koutsougeras ()
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Leonidas C. Koutsougeras: School of Economic Studies, University of Manchester, Rm N.5.8 Dover Street Bldg, Manchester M13 9PL, United Kingdom

No 1998009, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: In view of the well known core equivalence results in atomless economies, coincidence of market game equilibrium allocations with competitive allocations is tantamount to a three way equivalence between market game mechanisms, competitive equilibria and the core. Based on this idea I propose an equilibrium refinement of market games which allows me to use the core equivalence machinery to provide an exact market game characterization of competitive equilibria.

Date: 1998-01-18
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