GIFT EQUILIBRIA AND PARETO-OPTIMALITY RECONSIDERED
成果类型：
Note
署名作者：
KRANICH, L
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1994.1070
发表日期：
1994
页码：
298-300
关键词：
摘要：
Goldman (Gift equilibria and Pareto optimality, J. Econ. Theory 18, 1978, 368-370) demonstrated that the Second Welfare Theorem generally fails to hold in economies in which benevolent agents are permitted to make gifts. In this brief note, we point out that for the class of economies considered by Goldman, symmetry and a slight bias in favor of one's own consumption restore the Second Welfare Theorem.