Walrasian allocations without price-taking behavior.

Consider an exchange economy where agents are arbitragers, in that they try to upset allocations imagining plausible beneficial trades. With an introspective algorithm, each agent constructs an interactive choice set (ICS), i.e., a set of bundles that he considers achievable through a sequence of pl...

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Bibliographic Details

Published in:	Journal of Economic Theory Vol. 95; no. 1; pp. 79 - 107
Main Authors:	Serrano, Roberto, Volij, Oscar
Format:	Article
Published:	Academic Press Inc. November 2000
Subjects:	Welfare economics Mathematical models Auctions Resource allocation > Mathematical models
Online Access:	View this record in EBSCOhost