Walrasian social orderings in exchange economies

B-Tier
Journal: Journal of Mathematical Economics
Year: 2009
Volume: 45
Issue: 1-2
Pages: 16-22

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study social ordering functions in exchange economies. We show that if a social ordering function satisfies certain Pareto, individual rationality, and local independence conditions, then (i) the set of top allocations of the chosen social ordering is contained in the set of Walrasian allocations and is typically non-empty, and (ii) all individually rational but non-Walrasian allocations are typically ranked indifferently. Thus, such a social ordering function is quite similar to the Walrasian correspondence, which can be regarded as the social ordering function whose associated indifference classes are the set of Walrasian allocations and the set of other allocations.

Technical Details

RePEc Handle
repec:eee:mateco:v:45:y:2009:i:1-2:p:16-22
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29