A three way equivalence |
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| Authors: | Leonidas C. Koutsougeras Nicholas Ziros |
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| Affiliation: | a School of Social Sciences, University of Manchester, Oxford Road, Manchester M13 9PL, UK
b C.O.R.E, Université Catholique de Louvain, 34 Voie du Roman Pays, 1348 Louvain la Neuve, Belgium |
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| 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 we study equilibrium refinements of market games, which allow us to use the core equivalence machinery in order to provide an exact market game characterization of competitive equilibria. |
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| Keywords: | D50 C71 C72 |
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