Core equivalence in presence of satiation and indivisibilities

Bhowmik, Anuj and Dharanan, GVA (2021): Core equivalence in presence of satiation and indivisibilities.

Abstract

Equivalence between rejective core and set of dividend equilibria allocations is studied in finite economy and double infinity economy frameworks in presence of indivisibilities of commodities while also allowing the presence of satiated agents. It is further shown that in the finite economy and the double infinity economy, the core of every renegotiation core, the rejective core of every replica economy and the set of dividend equilibria are identical. Hence, core equivalence is demonstrated in both frameworks.

• Item Type: MPRA Paper
• Language: English
• Keywords: Core equivalence, Indivisible commodities, Satiation, Dividend equilibrium, Rejective core, Renegotiation core.
• Subjects: D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D50 - General; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production Economies

References

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