期刊
JOURNAL OF ECONOMIC THEORY
卷 148, 期 4, 页码 1606-1623出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jet.2013.04.014
关键词
Incomplete preferences; Efficient allocations and equilibria
类别
An exchange economy in which agents have convex incomplete preferences defined by families of concave utility functions is considered. Sufficient conditions for the set of efficient allocations and equilibria to coincide with the set of efficient allocations and equilibria that result when each agent has a utility in her family are provided. Welfare theorems in an incomplete preferences framework therefore hold under these conditions and efficient allocations and equilibria are characterized by first order conditions. (C) 2013 Elsevier Inc. All rights reserved.
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