On the Non-emptiness of the Fuzzy Core
Nizar Allouch and
Arkadi Predtetchinski ()
No 531, Working Papers from Queen Mary University of London, School of Economics and Finance
The seminal contribution of Debreu-Scarf (1963) connects the two concepts of core and competitive equilibrium in exchange economies. In effect, their core-equilibrium equivalence result states that, when the set of economic agents is replicated, the set of core allocations of the replica economy shrinks to the set of competitive allocations. Florenzano (1989) defines the fuzzy core as the set of allocations which cannot be blocked by any coalition with an arbitrary rate of participation and then shows the asymptotic limit of cores of replica economics coincides with the fuzzy core. In this note, we provide an elementary proof of the non-emptiness of the fuzzy core for an exchange economy. Unlike the classical Debreu-Scarf limit theorem and its numerous extensions our result does not require any asymptotic intersection -or limit- of the set of core allocations of replica economies.
Keywords: Fuzzy core; Payoff-dependent balancedness; Exchange economies (search for similar items in EconPapers)
JEL-codes: D51 C71 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://www.qmul.ac.uk/sef/media/econ/research/wor ... 2005/items/wp531.pdf (application/pdf)
Journal Article: On the non-emptiness of the fuzzy core (2008)
Working Paper: On the Non-emptiness of the Fuzzy Core (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:qmw:qmwecw:531
Access Statistics for this paper
More papers in Working Papers from Queen Mary University of London, School of Economics and Finance Contact information at EDIRC.
Bibliographic data for series maintained by Nicholas Owen ( this e-mail address is bad, please contact ).