Rationalizing allocation data—a nonparametric Walrasian theory when prices are absent or non-Walrasian

التفاصيل البيبلوغرافية
العنوان: Rationalizing allocation data—a nonparametric Walrasian theory when prices are absent or non-Walrasian
المؤلفون: Ruediger Bachmann
المصدر: Journal of Mathematical Economics. 40:271-295
بيانات النشر: Elsevier BV, 2004.
سنة النشر: 2004
مصطلحات موضوعية: Economics and Econometrics, General equilibrium theory, Applied Mathematics, Quantifier elimination, Nonparametric statistics, Economics, State (functional analysis), Edgeworth conjecture, Walrasian auction, Unobservable, Mathematical economics, Testability
الوصف: In this paper we develop a nonparametric Walrasian theory for allocation data. We show, using the Tarski–Seidenberg Theorem, that for each such data set or social plan, there exist necessary and sufficient conditions on this data set to decide, whether it can be supported by prices. This demonstrates that the cooperative foundation of the Walrasian theory and the decentralization theory for social plans can be formulated independently of theoretical, unobservable notions. We state and prove these conditions for a Walrasian equilibrium of a two-agent, n -good economy with two observations on individual endowments and final consumptions. In doing so, we develop a general framework for deriving conditions on data sets in terms of linear programs that characterize utility-based solution concepts. Applying this framework, we extend the analysis to more agents and specialize to quasi-linearity.
تدمد: 0304-4068
الوصول الحر: https://explore.openaire.eu/search/publication?articleId=doi_________::f81f74ebd6fe1bbf02fabe296653fbd9Test
https://doi.org/10.1016/j.jmateco.2004.01.003Test
حقوق: CLOSED
رقم الانضمام: edsair.doi...........f81f74ebd6fe1bbf02fabe296653fbd9
قاعدة البيانات: OpenAIRE