A characterization of the core in overlapping-generations economies (Q1084003): Difference between revisions

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Property / author: Joan Maria Esteban / rank
 
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Property / reviewed by: Andrzej Wieczorek / rank
 
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Property / full work available at URL: https://doi.org/10.1016/0022-0531(86)90053-0 / rank
 
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Property / OpenAlex ID: W2033088523 / rank
 
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Property / cites work: The overlapping-generations model. I: The case of pure exchange without money / rank
 
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Property / cites work
 
Property / cites work: The role of money in supporting the Pareto optimality of competitive equilibrium in consumption-loan type models / rank
 
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Property / cites work
 
Property / cites work: The core of a monetary economy without trust / rank
 
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Property / cites work
 
Property / cites work: Competitive equilibria and the core of overlapping generations economies / rank
 
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Latest revision as of 16:34, 17 June 2024

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A characterization of the core in overlapping-generations economies
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    A characterization of the core in overlapping-generations economies (English)
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    1986
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    The paper deals with a discrete dynamic economic model, as considered by \textit{Y. Balasko} and \textit{K. Shell} [ibid. 23, 281-306 (1980; Zbl 0455.90008)] with n perishable commodities, surviving to the next one. The author introduces and studies the concept of the core. In his own words, the paper ''...introduces criteria for identifying those equilibria, either barter or monetary, that are in the core....we provide examples of economies with an empty core and obtain the set of endowment allocation sequences for which the core is non-empty....we prove that for all Pareto-optimal allocations that can be implemented as monetary equilibria there exists a feasible redistribution of endowments such that they belong to the core and still can be implemented as monetary equilibria.''
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    overlapping generations economy
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    discrete dynamic economic model
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    perishable commodities
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    core
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    Pareto-optimal allocations
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    monetary equilibria
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