Экономическое равновесие и оптимум

The paper suggests axiomatic characterization of general equilibrium for a situation where each consumer has a fixed income. Not using any concept of price, we formulate four natural requirements to "fair" or "substantiated" rule of resource allocation , and prove that only equilibrium allocations can meet all the requirements. In fact, it takes place under very restrictive assumptions on consumers' utility functions. Thus, our results include an impossibility theorem.

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Year of publication:	1973
Authors:	Polterovich, Victor

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Type of publication:	Book / Working Paper
Language:	English ; Russian
Notes:	Polterovich, Victor (1973): Экономическое равновесие и оптимум. Published in: Economics and Mathematical Methods , Vol. 9, No. 5 (1973): pp. 838-845.
Classification:	D5 - General Equilibrium and Disequilibrium
Source:	BASE

Persistent link: https://www.econbiz.de/10015221371