The equilibrium of the bargaining game and core convergence theorem on an exchange economy with limited traders
نویسندگان
چکیده
Debreu and Scarf (1963), Hildenbrand (1974), Aumann (1964), Dierker (1975), Bewley (1973), others have shown that the core of an exchange economy with infinitely many or finitely traders converges. However, does not always consist traders. This note provides proof convergence theorem on limited by a bargaining game methodology. The main contribution this is to innovate equilibrium solution in economy. In note, concept common payoff introduced; coalition its payoff, all members will get same distribution, thus distribution scheme cooperation surplus determined. shows among make pure converge Walrasian equilibrium, allocations other than be eliminated from
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ژورنال
عنوان ژورنال: Bulletin of Economic Research
سال: 2022
ISSN: ['0307-3378', '1467-8586']
DOI: https://doi.org/10.1111/boer.12341