A Simple Auctioneerless Mechanism with Walrasian Properties

Article Abstract:

A simple method is proposed in which trader actions determine prices directly. No auctioneer is needed to adjust prices. The new mechanism performs indentically to the Walras auctioneer with the exact set of equilibrium.

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A Uniform Core Convergence Result for Non-Convey Economies

Article Abstract:

A form of convergence in price terms is developed for core allocations. Uniform convergence is achieved for non- convey economies. A trader will acquire a bundle in the core allocation approximating his wealth.

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Characterizations of bargaining solutions in production economies with unequal skills

Article Abstract:

This study examines resource allocation problems in production economies possessing unequal skills and proposes three bargaining solutions.

Japan, Science & research, Research, Comparative economics

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