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Showing papers in "Journal of Mathematical Economics in 1984"


Journal ArticleDOI
TL;DR: In this article, the authors reformalize the model and the equilibrium notion of Schmeidler in terms of distributions rather than measurable functions and show how to obtain pure strategy equilibrium existence theorems quite effortlessly and under general conditions.

354 citations


Journal ArticleDOI
TL;DR: The Lorenz curve of income after tax is known to dominate the one before tax for all given income distributions if and only if average tax liability is monotone increasing with income as discussed by the authors.

83 citations


Journal ArticleDOI
Makoto Yano1
TL;DR: Bewley as mentioned in this paper considered a dynamic general equilibrium model with heterogeneous consumers and showed that an equilibrium path converges to a limit which depends upon initial conditions, and the limit lies near the stationary state independent of initial conditions.

57 citations


Journal ArticleDOI
TL;DR: In this article, the authors develop a regularity theory for stationary overlapping generations economies and show that there is an odd number of steady states in which a non-zero amount of nominal debt (fiat money) is passed from generation to generation and an even number in which there is no nominal debt.

55 citations


Journal ArticleDOI
TL;DR: In this paper, a system of competing firms is considered in which adjustments of output are subject to delays, and the stability of the oligopoly problem is considered under the Cournot strategy.

53 citations


Journal ArticleDOI
TL;DR: An existence theorem for Walrasian equilibrium for an economy with a continuum of consumers and an infinite-dimensional commodity space, such as l 1 or c 0, having an "order-compatible" basis was shown in this paper.

39 citations


Journal ArticleDOI
TL;DR: A generalization of Aumann's existence theorem to economies without ordered preferences and with externalities in consumption has been proposed in this paper, which can alternatively be viewed as a generalisation of the Shafer-Sonnenschein (1975) theorem for economies with a continuum of agents.

38 citations


Journal ArticleDOI
TL;DR: In this article, the strong core is included in the set of competitive allocations in the Shapley-Scarf market model with indivisible goods, and it is shown that the non-empty strong core also belongs to the competitive allocations.

36 citations


Journal ArticleDOI
TL;DR: In this article, the authors consider an economy with restrictions on the relative prices of non-money commodities and prove the existence of a supply-constrained equilibrium with no rationing on the money commodities (stores of value).

21 citations


Journal ArticleDOI
TL;DR: In this article, the concept of price-dispersed preferences is introduced and conditions under which economies with price-distpersed preference distributions have a continuously differentiable mean demand function.

21 citations


Journal ArticleDOI
John Geanakoplos1
TL;DR: In this paper, explicit utility functions uk, constructed on the basis of a simple geometric intuition, give rise to Debreu's excess demands [uvbar|x]k(p).

Journal ArticleDOI
TL;DR: In this article, the existence of competitive equilibria in economies without ordered preferences and a Hausdorff locally convex solid Riesz space of commodities was shown. But their assumptions were based on the assumption that the commodity space has a predual and its positive cone has a non-empty interior.

Journal ArticleDOI
Makoto Yano1
TL;DR: In this paper, the authors present a proof of the theorem in the case where the future is discounted, and give a proof for the theorem simpler than existing ones, under the assumption that a utility function is twice differentiable and that is Hessian is negative definite.

Journal ArticleDOI
Timothy J. Kehoe1
TL;DR: In this article, it was shown that for an economy with a generalized input-output structure and two factors of production, such a search is feasible, and indeed can be performed graphically.

Journal ArticleDOI
TL;DR: In this article, the symmetry of the procedures and the relationship between principal and bordered minors provides the possibility of a bridge between them and then an appreciable reduction of computation, and new determinental criteria of concavity and quasi-concavity follow.

Journal ArticleDOI
TL;DR: In this paper, the probability of a blocking coalition from a notion of being non-Walrasian which does not rely on the explicit use of norms is determined, where the key concept introduced is that of Walras degrees.

Journal ArticleDOI
TL;DR: In this paper, the authors define a realization of a smooth, real-valued function in a manner which is based upon Hurwicz's model of privacy-preserving economic mechanisms.

Journal ArticleDOI
Rajiv Vohra1
TL;DR: In this article, the existence of a compensated Tiebout equilibrium for an economy with a measure space of consumers was proved for an economic system with natural monopolies and contestable markets.

Journal ArticleDOI
TL;DR: In this paper, the maximum number of balancing subsets for given n real numbers is discussed, where a subset of the set {1,…,ir} is called a balancing subset if ai1 + … + air = 0.

Journal ArticleDOI
TL;DR: In this article, the existence of a free disposal equilibrium in infinite dimensional models of the economy was proved for concave-convex functions rather than bilinear functions and excess demand correspondence dedicated to Professor Heinz Konig.

Journal ArticleDOI
TL;DR: The duality theory of mathematical programming can be applied to many kinds of optimization problems in mathematical economics, even if no objective functions is available, and the usual definition of optimality is replaced by weak optimality.