A Note on Aumann's Core Equivalence Theorem without Monotonicity

In an exchange economy with a continuum of traders, we establish the equivalence theorem on the core and the set of competitive allocations without assuming monotonicity of traders' preferences. Under weak assumptions we provide two alternative core equivalence theorems. The first one is for irreducible economies under Debreu's assumption on quasi-equilibria. The second one is an extension of Aumann's theorem under weaker assumptions than monotonicity.

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Year of publication:	2009-04
Authors:	Honda, Jun ; Takekuma, Shin-Ichi
Institutions:	Graduate School of Economics, Hitotsubashi University
Subject:	core \| equivalence \| monotonicity \| quasi-equilibrium \| irreducibility

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2009-04 17 pages long
Classification:	C71 - Cooperative Games ; D41 - Perfect Competition ; D51 - Exchange and Production Economies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004998245