A re-examination of constrained Pareto inefficiency in economies with incomplete markets

Abstract

"We establish that, when the number of agents is sufficiently large, but finite, there are open sets of economies with constrained Pareto inefficient equilibria, and provide a simple sufficient condition for CP inefficiency. We also show that there are open sets of economies with CPO equilibria." (Author's abstract, IAB-Doku) ((en))

Cite article

Mendolicchio, C. & Pietra, T. (2016): A re-examination of constrained Pareto inefficiency in economies with incomplete markets. (IAB-Discussion Paper 12/2016), Nürnberg, 26 p.