On The Equivalence Between The Rejective Core And The Dividend Equilibrium

Exchange economies in which preferences of some consumers are possibly satiated are considered. In a general model of an atomless exchange economy, the equivalence between the 'Rejective' core and the set of dividend equilibrium allocations is proved by applying Liapunov's theorem in multi-dimensions. In general equilibrium theory, non-satiation of consumers' preferences is an essential assumption and is used in proving the existence of the competitive equilibrium and the equivalence between the core and the competitive equilibrium.

Provided by: Hitotsubashi University Topic: Data Centers Date Added: May 2010 Format: PDF

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