A three way equivalence

• 成果类型: Article
• 署名作者: Koutsougeras, Leonidas C.; Ziros, Nicholas
• 署名单位: University of Manchester; Universite Catholique Louvain
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2007.06.004
• 发表日期: 2008
• 页码: 380-391
• 关键词: strategic market games; core; COMPETITION

摘要

In view of the well known core equivalence results in atomless economics, coincidence of market game equilibrium allocations with competitive allocations is tantamount to a three way equivalence between market game mechanisms, competitive equilibria and the core. Based on this idea we study equilibrium refinements of market games, which allow us to use the core equivalence machinery in order to provide an exact market game characterization of competitive equilibria. (c) 2007 Elsevier Inc. All rights reserved.