The Best Rate of Convergence of the Core
研究经济中交易者数量增加时核的收敛速度,指出在光滑偏好和内部分配假设下速度为o(1/n),但边界分配或效率价格不唯一时速度可能退化。
If the number of traders in an economy is n, Debreu [1975] and Grodal [1975] have shown that the rate of convergence of the core is inversely proportional to n, i.e., o( l). To obtain this result, they impose smoothness assumptions on the preferences and only consider interior allocations. Moreover, they use the maximum physical deviation from a nearby allocation as a measure of the competitive gap (for alternative measures and a detailed discussion, see Cheng [1981]), hence the rate holds only generically. The result is extended to the boundary allocation by Cheng [1981] with an indecomposability condition. Without this condition (or more generally, when the associated efficiency price is not unique), the rate 0 l can become degenerate, as is shown in Cheng [1982]. The example in Cheng [1982], although succeeds in establishing the degeneracy