The benefit function, introduced by Luenberger, provides a tool for well-defined cardinal comparisons of different bundles of goods. It also allows to study in an orignal way optimal consumers and firms choices, Pareto-optimality etc... In this note we prove that the benefit function is...

We construct a simple trading process that is based on the maximization, at each stage, of the total distributable surplus. We show that this process converges to a Pareto optimal allocation.

The proposition 1 of our paper "On the differentiability of the benefit function" (Economics Bulletin, March, 24) is incorrect under the assumption 1. We provide two alternative versions of this assumption under which the statement of proposition 1 holds true.

The proposition 1 of our paper "On the differentiability of the benefit function" (Economics Bulletin, March, 24) is incorrect under the assumption 1. We provide two alternative versions of this assumption under which the statement of proposition 1 holds true.

The benefit function, introduced by Luenberger, provides a tool for well-defined cardinal comparisons of different bundles of goods. It also allows to study in an orignal way optimal consumers and firms choices, Pareto-optimality etc... In this note we prove that the benefit function is...