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Social loss with respect to the core of an economy

Author

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  • Aldo Montesano

    (Department of Economics, Bocconi University, via Sarfatti 25, I-20136 Milan, Italy)

Abstract

The dual notion of Pareto-efficiency (i.e., individual utilities cannot be reached with fewer resources than those of the allocation under consideration) is used in order to define the resources-core. A measure of social loss with respect to the core is then introduced, more or less as already done with respect to the locus of efficient allocations.

Suggested Citation

  • Aldo Montesano, 2002. "Social loss with respect to the core of an economy," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(4), pages 763-767.
    • Handle: RePEc:spr:sochwe:v:19:y:2002:i:4:p:763-767
    Note: Received: 4 December 2000/Accepted: 14 June 2001
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    Cited by:

    1. Christian Pietro & Maria Gabriella Graziano & Vincenzo Platino, 2022. "Social loss with respect to the core of an economy with externalities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 73(2), pages 487-508, April.
    2. Aldo Montesano, 2018. "A Dual Characterization of Pareto Optimality," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 4(1), pages 153-188, March.
    3. Maria Gabriella Graziano & Vincenzo Platino, 2024. "A measure of social loss for production economies with externalities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(2), pages 443-474, September.

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