Allais' trading process and the dynamic evolution of a market economy

B-Tier
Journal: Economic Theory
Year: 2000
Volume: 16
Issue: 2
Pages: 477-481

Authors (2)

Jean-Marc Tallon (Paris School of Economics) Jean-Michel Courtault (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

We construct a simple trading process that is based on the maximization, at each stage, of the total distributable surplus. We show that this process converges to a Pareto optimal allocation.

Technical Details

RePEc Handle
repec:spr:joecth:v:16:y:2000:i:2:p:477-481
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25