We prove that every transferable utility (TU) game can be generated by a coalition production economy. Given a TU game, the set of Walrasian payoff vectors of the induced coalition production economy coincides with the core of the balanced cover of the given game. Therefore, a Walrasian...

We prove that every compactly generated non-transferable utility (NTU) game can be generated by a coalition production economy. The set of Walrasian payoff vectors for our induced coalition production economy coincides with the inner core of the balanced cover of the original game. This...

We consider a two-period exchange economy without uncertainty. Every commodity can be consumed only in integer amounts and there exists one financial (nominal) asset whose trading unit is divisible. Holding the asset does not directly affect agents' preferences. We prove the existence of an...