The transfer paradox in welfare space
| Autor: | Victor Ginsburgh, Bram De Rock, Thomas Demuynck |
|---|---|
| Přispěvatelé: | Microeconomics & Public Economics, RS: GSBE ETBC |
| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: |
Computer Science::Computer Science and Game Theory
Economics and Econometrics Index (economics) EQUILIBRIA 050204 development studies media_common.quotation_subject jel:D60 Stability (learning theory) PURE THEORY Space (mathematics) INTERNATIONAL-TRADE Microeconomics welfare equilibrium exchange economy transfer paradox Corollary 0502 economics and business Transfer paradox Economics media_common STABILITY jel:D51 Applied Mathematics 05 social sciences Edgeworth paradox Welfare equilibrium Computer Science::Multiagent Systems Transfer (group theory) Exchange economy 8. Economic growth Economie 050206 economic theory Welfare Mathematical economics |
| Zdroj: | Journal of mathematical economics, 62 Journal of Mathematical Economics, 62, 1-4. Elsevier Science |
| ISSN: | 0304-4068 |
| DOI: | 10.1016/j.jmateco.2015.10.006 |
| Popis: | © 2015 Elsevier B.V. The transfer paradox describes a situation in which a transfer of endowments between two agents results in a welfare decrease for the recipient and a welfare increase for the donor. It is known that in a two-agent regular exchange economy with an arbitrary number of goods, the transfer paradox occurs only if the price equilibrium is unstable. In this paper, we show that in the space of welfare weights, the set of stable equilibria and the set of no-transfer paradox equilibria coincide. As a corollary we also obtain that for two agents and an arbitrary number of goods, the index of an equilibrium in price space coincides with its index in welfare space. publisher: Elsevier articletitle: The transfer paradox in welfare space journaltitle: Journal of Mathematical Economics articlelink: http://dx.doi.org/10.1016/j.jmateco.2015.10.006 content_type: article copyright: Copyright © 2015 Elsevier B.V. All rights reserved. ispartof: Journal of Mathematical Economics vol:62 pages:1-4 status: published |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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