Showing papers in "Journal of Mathematical Economics in 1977"

TL;DR: The core of a market in indivisible goods can be defined in terms of strong domination or weak domination as mentioned in this paper, and it is shown that there are always stable points in the core, and a characterization is obtained.

TL;DR: In this paper, concavifiable convex preference orderings are characterized and minimally concave utilities are constructed, using three different approaches, one involves the intersection of arbitrary lines with the three indifference surfaces, another involves conditions on the normals of two indifference surfaces and is related to the super-gradient map of a possible concave utility.

TL;DR: In this article, it was shown that if the number of commodities is greater than two, then every pattern of equilibria compatible with the above referred to properties can arise from an economy in the class we consider.

TL;DR: In this article, a strategic model of exchange and production is presented, and the existence of non-cooperative equilibrium points and noncooperative competitive equilibria is discussed, as well as the role of credit, capital goods and trading of shares.

TL;DR: The main result of as discussed by the authors is that in perfectly competitive markets, every value allocation is a competitive allocation, and the problems of existence of the value and of the converse to the above result are also studied.

TL;DR: The postulate of economic rationality (or "maximizing" behavior) is the cornerstone of present-day microeconomic theory as discussed by the authors, and it is popular to model consumers or business firms as farsighted maximizers of lifetime utility or profits.

TL;DR: For arbitrary measure spaces of agents, the authors investigated the existence of social welfare functions which fulfill a suitable non-dictatorship axiom; it turns out that there is an essential difference between finite and σ-finite but infinite measure spaces.

TL;DR: In this article, the authors investigated the asymptotic value for a class of non-atomic games, which includes all those arising from markets with a continuum of traders, and they proved that the value is a member of the core, and gave a necessary condition for its existence.

TL;DR: In this paper, a definition and an existence proof for quasi-equilibrium in abstract economies is presented, and applied to a standard economy this definition coincides with the regular notion of a quasi equilibrium given by Debreu.

TL;DR: In this article, the authors show how Smale's method of computing fixed points can be extended to problems involving very general boundary behavior and show how this can be used to solve boundary problems.

TL;DR: In this article, it was shown that if y and z are allocations of a pure exchange economy with z optimal and preferred to y by every agent, then there is a trade curve of finite length from y to z.

TL;DR: In this paper, the authors studied the way expectations of agents can be formed along time through some learning mechanism, and provided sufficient first-order conditions for the dynamics and expectations to converge to some limits when time goes to infinity.

TL;DR: In this paper, it is shown that for the case of two traders, the rationality result carries over and a finite procedure for calculating the equilibrium is given for both traders and consumers.

TL;DR: The authors characterizes Pareto efficient allocations by means of prices within a public-goods economy, where the underlying notion of public commodities is a generalization covering private and pure public ones as extreme cases.