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General Equilibrium Theory (GE) scrutinizes the ability of markets to achieve efficient allocation of resources. Our main purpose is, in the framework to the GE to analyze, the possibility of design a mechanism enabling agents to make independent decisions compatible with social welfare. More...
Persistent link: https://www.econbiz.de/10014177771
In this paper we show that in a pure exchange economy where social weights and total resources are fixed there is no possibility to improve the social welfare by means of efficient reallocations of the resources. However, if social weights are not fixed but can be selected from a particular set,...
Persistent link: https://www.econbiz.de/10012746690
This paper surveys the main contributions of Amartya Sen in the fields of social choice theory, income distribution, and measurement of poverty. His empirical studies on famine and his discussion of the fundamental themes of rational choice are also commented on. A recurring theme in Sen's work...
Persistent link: https://www.econbiz.de/10005465118
In this paper we show the strong relation existing between efficiency and social welfare. We introduce the concept of Negishi path, a differentiable manifold that shows the relation between distributions of social weights and efficient allocations. We show that it is possible to assign to each...
Persistent link: https://www.econbiz.de/10009143759
In the framework of general equilibrium theory, this paper considers the existing relationship between the concepts of egalitarianism, efficiency and fairness, in a pure exchange economy with infinitely many goods. We consider the possibility of achieving an efficient egalitarian allocation in a...
Persistent link: https://www.econbiz.de/10010764319
Este trabajo, de carácter metodológico, esta motivado por dos preocupaciones: La primera se relaciona con un intento para discriminar entre la literatura comunicada por las revistas académicas de Economía. La segunda se refiere a la relación, poca o mucha, que hay entre los modelos de...
Persistent link: https://www.econbiz.de/10009145834