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 -