Blocking efficacy of small coalitions in myopic economies

• 成果类型: Article
• 署名作者: Hervés-Beloso, C; Moreno-Garcia, E; Nunez-Sanz, C; Pascoa, MR
• 署名单位: Universidade de Vigo; Universidade Nova de Lisboa; Universidad Carlos III de Madrid
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1006/jeth.2000.2647
• 发表日期: 2000
• 页码: 72-86
• 关键词: continuum economy; coalitions; core; Perfect competition; Walrasian equilibrium

摘要

We consider a continuum economy with infinitely many commodities and show that, for any positive epsilon, the core of the economy coincides with the set of allocations which are not blocked by any coalition with measure less than epsilon. Actually, our main result is an extension of Grodal's (1972, Econometrica 40, 581-583) result and, therefore, Schmeidler's (1972. Econometrica 40, 579-580) result to economics whose commodity space is l(infinity), for myopic preferences. Journal of Economic Literature Classification Numbers: C71, D51. (C) 2000 Academic Press.