EconPapers    
Economics at your fingertips  
 

Contracts and domination in incomplete markets

Valeriy Marakulin ()

EERC Working Paper Series from EERC Research Network, Russia and CIS

Abstract: A domination concept, based on the notion of an exchange contract, is proposed and studied in this paper. Doing so, the classical notion of domination via coalitions is transmitted onto systems (webs) of contracts and onto allocations, whose stability is investigated. This way, the proposed concept of a core for incomplete markets is described as a set of allocations realized by the webs of contracts that have a special kind of stability relative to the breaking of existing contracts and relative to the ability to sign new contracts. This concept converts into classical core when the market turns complete. Under perfect competition conditions, core allocations are equilibria. These properties prove that the studied core concept is valid.

Keywords: Russia; incomplete markets; core; contract; contractual allocation; competitive equilibrium (search for similar items in EconPapers)
JEL-codes: C62 D51 (search for similar items in EconPapers)
Pages: 86 pages
Date: 2003-09-24
New Economics Papers: this item is included in nep-cis, nep-mic and nep-tra
References: Add references at CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
https://eercnetwork.com/default/download/creater/w ... dd5d2648bdd9ae21.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to eercnetwork.com:443 (A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond.)

Related works:
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: https://EconPapers.repec.org/RePEc:eer:wpalle:02-04e

Ordering information: This working paper can be ordered from
EERC Research Network, Russia and CIS, 92/94, Dmytrivska Str., suite 404, Kyiv, 01135 Ukraine
https://eercnetwork.com/paper

Access Statistics for this paper

More papers in EERC Working Paper Series from EERC Research Network, Russia and CIS EERC Research Network, Russia and CIS, 92/94, Dmytrivska Str., suite 404, Kyiv, 01135 Ukraine.
Bibliographic data for series maintained by Anton Pashchenko ().

 
Page updated 2021-10-15
Handle: RePEc:eer:wpalle:02-04e