自愿且有效的配置是瓦尔拉斯均衡

Voluntary and Efficient Allocations are Walrasian

Econometrica · 1985
被引 18
人大 A+FT50ABS 4*

中文导读

证明,在可微性和内部性条件下,如果一种配置是自愿且帕累托有效的,那么它就是竞争均衡。对于存在利润收入的私人所有制经济,需要更强的自愿性条件,该条件将一种商品指定为交换媒介。

Abstract

Let F be a private ownership economy. Call an allocation w for a price vector p if no agent can benefit by trading less at p. We prove that, under differentiability and interiority, if w is voluntary and Pareto efficient it is a competitive equilibrium for W. Perhaps surprisingly, production economies where some agents receive profit income require a stronger voluntariness condition than the one sufficient for exchange economies. The stronger condition singles out a commodity as a medium of exchange.

自愿分配帕累托有效瓦尔拉斯均衡交易媒介