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INOUE Tomoki
Department Undergraduate School , School of Political Science and Economics Position Senior Assistant Professor |
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| Language | English |
| Publication Date | 2005/08 |
| Type | Academic Journal |
| Peer Review | Peer reviewed |
| Title | Do pure indivisibilities prevent core equivalence? Core equivalence theorem in an atomless economy with purely indivisible commodities only |
| Contribution Type | Sole-authored |
| Journal | Journal of Mathematical Economics |
| Volume, Issue, Page | 41(4-5),pp.571-601 |
| Details | We consider a pure exchange economy with a continuum of agents and finitely many indivisible commodities. Every commodity can be consumed only in integer amounts. Thus, agents' preferences are locally satiated and no commodity bundle has necessarily local cheaper points. We introduce a core which is an intermediate concept between the strong core and the weak core. In our economy, this core is the most natural concept in the sense that it coincides with the set of all exactly feasible Walras allocations. |
| DOI | 10.1016/j.jmateco.2004.09.004 |