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Can I read On the Transfer and Advantageous Reallocation Paradoxes on EtoBox?
On the Transfer and Advantageous Reallocation Paradoxes by Milind Rao is a Economics, Econometrics and Finance article available to read on EtoBox.
What is On the Transfer and Advantageous Reallocation Paradoxes about?
It is well known that the transfer and advantageous reallocation paradoxes cannot occur at a Walrasian stable equilibrium in a two agent economy. In an influential recent paper Chichilnisky provided an example of the transfer paradox in the context of a globally Walrasian stable three agent economy. It is evident, though, that the paradoxes depend on the underlying data-tastes, preferences and net export positions-of the economy. This paper characterizes and generalizes the transfer and advantageous reallocation paradoxes: necessary and sufficient conditions on the underlying data of a globally Walrasian stable economy for the occurence of each of these paradoxes are established; the key role of the third agent in generating these paradoxes is clarified. \* I would like to thank John Donaldson, Duncan Foley and two anonymous referees of this journal for helpful comments. The usual disclaimers apply. This definition follows Donsimoni and Polemarchakis [6].
Who reads On the Transfer and Advantageous Reallocation Paradoxes?
It is typically read by researchers, students, and practitioners in Economics, Econometrics and Finance.
- Author
- Milind Rao
- Publisher
- Springer; Springer-Verlag; Springer Verlag; Springer Science and Business Media LLC (ISSN 0176-1714)
- Published
- 1992
- Language
- EN
- Field
- Economics, Econometrics and Finance (Social Sciences)