A re-examination of constrained Pareto inefficiency in economies with incomplete markets

Concetta Mendolicchio and Tito Pietra

No 201612, IAB-Discussion Paper from Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]

Abstract: "We establish that, when the number of agents is sufficiently large, but finite, there are open sets of economies with constrained Pareto inefficient equilibria, and provide a simple sufficient condition for CP inefficiency. We also show that there are open sets of economies with CPO equilibria." (Author's abstract, IAB-Doku) ((en))

Keywords: Finanzmarkt; Gleichgewichtstheorie; Gütermarkt; Marktgleichgewicht; Markttheorie; Marktunvollkommenheit; Pareto, Vilfredo; Preistheorie; Verteilungstheorie (search for similar items in EconPapers)
JEL-codes: D51 D52 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2016-04-20
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in/as: Journal of Mathematical Economics, (2018), o. Sz., doi:10.1016/j.jmateco.2018.10.006

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Journal Article: A re-examination of constrained Pareto inefficiency in economies with incomplete markets (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:iab:iabdpa:201612

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