Beliefs and Pareto Efficient Sets: A Remark |
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| Authors: | Thibault GajdosJean-Marc Tallon |
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| Institution: | a Université Cergy-Pontoise, THEMA, EUREQua, Université Paris I, 106-112 bld de l'Hôpital, 75647, Paris Cedex 13, Francef1gajdos@ensal.frf1b EUREQua, CNRS-Université Paris I, 106-112 bld de l'Hôpital, 75647, Paris Cedex 13, France, Universita Ca'Foscari, Venezia, Italy, f2jmtallon@univ-paris1.frf2 |
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| Abstract: | We show that, in a two-period economy with uncertainty in the second period, if an allocation is Pareto optimal for a given set of beliefs and remains optimal when these beliefs are changed, then the set of optimal allocations of the two economies must actually coincide. We identify equivalence classes of beliefs, giving rise to the same set of Pareto optimal allocations. Journal of Economic Literature Classification Numbers: D51, D61. |
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| Keywords: | beliefs Pareto optimality |
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