Research output: Contribution to journal › Article › peer-review
Undominatedness of Equilibria in a Mixed Economy of Arrow—Debreu Type. / Vasil’ev, V. A.
In: Journal of Applied and Industrial Mathematics, Vol. 13, No. 4, 19, 01.10.2019, p. 771-785.Research output: Contribution to journal › Article › peer-review
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TY - JOUR
T1 - Undominatedness of Equilibria in a Mixed Economy of Arrow—Debreu Type
AU - Vasil’ev, V. A.
N1 - Funding Information: This author was supported by the Russian Foundation for Basic Research (project no. 19-10-00910) and the Program No. I.5.1 of Fundamental Scientific Research of the Siberian Branch of the Russian Academy of Sciences (project no. 0314-2019-0018). Publisher Copyright: © 2019, Pleiades Publishing, Ltd. Copyright: Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2019/10/1
Y1 - 2019/10/1
N2 - We consider a model of economy with two markets for each product: one—state and the other—competitive. Moreover, both markets coexist in the same economic space allowing free movement of goods and means of payment. In particular, it is assumed that the surplus of products purchased at fixed state prices can be sold at free prices of the competitive market. The important feature of the model is that the manufacturing activity is taken into account both in the state and in the competitive market. While most literature on mixed economies is devoted to the issues of existence and Pareto optimality of equilibria, the focus of the present paper is on analyzing their coalition stability. We continue studying the fuzzy cores of mixed economic models of Arrow—Debreu type which was started earlier for the case of high free market prices. New conditions are established for the coincidence of the sets of undominated and equilibrium allocations, covering the cases of low equilibrium prices for some of the products.
AB - We consider a model of economy with two markets for each product: one—state and the other—competitive. Moreover, both markets coexist in the same economic space allowing free movement of goods and means of payment. In particular, it is assumed that the surplus of products purchased at fixed state prices can be sold at free prices of the competitive market. The important feature of the model is that the manufacturing activity is taken into account both in the state and in the competitive market. While most literature on mixed economies is devoted to the issues of existence and Pareto optimality of equilibria, the focus of the present paper is on analyzing their coalition stability. We continue studying the fuzzy cores of mixed economic models of Arrow—Debreu type which was started earlier for the case of high free market prices. New conditions are established for the coincidence of the sets of undominated and equilibrium allocations, covering the cases of low equilibrium prices for some of the products.
KW - equilibrium
KW - fuzzy core
KW - mixed economy with production
KW - rationing
KW - state order
KW - undominated allocation
UR - http://www.scopus.com/inward/record.url?scp=85078926023&partnerID=8YFLogxK
UR - https://www.elibrary.ru/item.asp?id=43243610
U2 - 10.1134/S1990478919040197
DO - 10.1134/S1990478919040197
M3 - Article
AN - SCOPUS:85078926023
VL - 13
SP - 771
EP - 785
JO - Journal of Applied and Industrial Mathematics
JF - Journal of Applied and Industrial Mathematics
SN - 1990-4789
IS - 4
M1 - 19
ER -
ID: 27964645