A refinement of the core equivalence theorem |
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Authors: | Andreu Mas-Colell |
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Affiliation: | University of California, Berkeley, CA 94720, USA |
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Abstract: | It is known that if blocking coalitions are restricted to be small relative to the size of the economy then the approximation of core allocations by competitive allocations can still be assured. This paper proves that the same type of approximation result is valid if the absolute size of the blocking coalition is bounded. The methods of Anderson (1978) are applied. |
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