Fuzzy core allocations in a mixed economy of arrow-debreu type

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Abstract

An important feature of the mixed economic system under consideration, besides the presence of a mixed production sector, is that two different regulation mechanisms function jointly: central planning and flexible market prices. Thus, this model is characterized by the presence of dual markets. In the first market, prices are stable and the allocation of commodities is determined by rationing schemes and governmental orders. In the second market, prices are flexible and are formed by the standard mechanism of equating demand and supply. We assume that the excess of any commodity purchased in the first market may be resold by any economic agent at flexible market prices. Whereas a lot of papers are devoted to existence and efficiency of mixed market equilibria, this paper investigates extremal properties of equilibrium allocations in a mixed economy of Arrow-Debreu type. A notion of fuzzy domination in a mixed environment is given, and coincidence of the fuzzy core and equilibrium allocations in certain specifications of economy in question is shown to hold.

Original languageEnglish
Title of host publicationOptimization Problems and Their Applications - 7th International Conference, OPTA 2018, Revised Selected Papers
PublisherSpringer-Verlag GmbH and Co. KG
Pages235-248
Number of pages14
ISBN (Print)9783319937991
DOIs
Publication statusPublished - 1 Jan 2018
Event7th International Conference on Optimization Problems and Their Applications, OPTA 2018 - Omsk, Russian Federation
Duration: 8 Jun 201814 Jun 2018

Publication series

NameCommunications in Computer and Information Science
Volume871
ISSN (Print)1865-0929

Conference

Conference7th International Conference on Optimization Problems and Their Applications, OPTA 2018
CountryRussian Federation
CityOmsk
Period08.06.201814.06.2018

Keywords

  • Equilibrium
  • Fuzzy core allocation
  • Governmental order
  • Rationing

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