We present a microeconomic analysis of subsistence in the consumer theory framework with two goods: the basic good (food) and the non-basic good (non-food). Subsistence results in two regions in the consumption set: the pre subsistence zone in which the individual's subsistence requirement is...

We provide a full characterisation of the set of trading equilibria (in which all goods are traded at a positive price) in a strategic market game (as introduced by Shapley and Shubik),for both the "buy and sell" and the "buy or sell" versions of this model under standard assumptions on the...

We provide a full characterisation of the set of trading equilibria (in which all goods are traded at a positive price) in a strategic market game (as introduced by Shapley and Shubik),for both the "buy and sell" and the "buy or sell" versions of this model under standard assumptions on the...

We adopt a welfarist approach to study sequencing problems in a private information setup. The ”generalized minimum welfare bound” (GMWB) is a universal representation of all the specific bounds that have been previously studied in the literature. Every agent is offered a protection in the...