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On a three way equivalence

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  • KOUTSOUGERAS, Leonidas C.

    (School of Economic Studies, University of Manchester, Rm N.5.8 Dover Street Bldg, Manchester M13 9PL, United Kingdom)

Abstract

In view of the well known core equivalence results in atomless economies, coincidence of market game equilibrium allocations with competitive allocations is tantamount to a three way equivalence between market game mechanisms, competitive equilibria and the core. Based on this idea I propose an equilibrium refinement of market games which allows me to use the core equivalence machinery to provide an exact market game characterization of competitive equilibria.

Suggested Citation

  • KOUTSOUGERAS, Leonidas C., 1998. "On a three way equivalence," LIDAM Discussion Papers CORE 1998009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1998009
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1998.html
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    References listed on IDEAS

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