Exchange and optimality

B-Tier
Journal: Economic Theory
Year: 1999
Volume: 13
Issue: 3
Pages: 629-642

Authors (2)

S. Ghosal (ICFAI University) H. M. Polemarchakis (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

A feasible social state is irreducible if and only if, for any non-trivial partition of individuals into two groups, there exists another feasible social state at which every individual in the first group is equally well-off and someone strictly better-off. Competitive equilibria decentralize irreducible Pareto optimal social states.

Technical Details

RePEc Handle
repec:spr:joecth:v:13:y:1999:i:3:p:629-642
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25