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On decomposable exchange rules

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
70
Issue
3
Identifiers
DOI: 10.1016/s0165-1765(00)00380-3
Keywords
  • Decomposability
  • Walrasian Exchange

Abstract

Abstract We study an exchange rule decomposability property requiring that if a fraction only of a recommended exchange takes place, then the remaining exchange be also recommended when including already exchanged quantities in individual endowments. We obtain justifications for the Walrasian exchange rule although this rule is not the only efficient, decomposable and equitable exchange rule.

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