On Edgeworth Equilibrium for a Multiregional Economic System

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Abstract

In the paper, we extend our investigations of Edgeworth allocations in non-classic markets being some modifications of the well-known Arrow-Debreu model. Existence and core equivalence problems for Edgeworth equilibria in a model of multi-regional economic system are considered. It is shown that regional strict autarchy property guarantees coincidence of the fuzzy core and the set of Edgeworth plans of the economies under consideration. By uniting strict autarchy property and 'no cornucopia' assumption we obtain a new Edgeworth equilibrium existence theorem without rather complicated bounded transferability requirement applied in the previous existence results. The proof is based on appropriate generalization of the famous Scarf Theorem on the core to the case of fuzzy NTU cooperative game.

Original languageEnglish
Title of host publication2019 15th International Asian School-Seminar Optimization Problems of Complex Systems, OPCS 2019
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages167-172
Number of pages6
ISBN (Electronic)9781728129860
DOIs
Publication statusPublished - Aug 2019
Event15th International Asian School-Seminar Optimization Problems of Complex Systems, OPCS 2019 - Novosibirsk, Russian Federation
Duration: 26 Aug 201930 Aug 2019

Publication series

Name2019 15th International Asian School-Seminar Optimization Problems of Complex Systems, OPCS 2019

Conference

Conference15th International Asian School-Seminar Optimization Problems of Complex Systems, OPCS 2019
Country/TerritoryRussian Federation
CityNovosibirsk
Period26.08.201930.08.2019

Keywords

  • 'no cornucopia' assumption
  • Edgeworth equilibria
  • multi-regional economic system

OECD FOS+WOS

  • 1.01 MATHEMATICS

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