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Competitive Equilibrium For Almost All Incomes: Existence and Fairness
[article]
2020
arXiv
pre-print
Competitive equilibrium (CE) is a fundamental concept in market economics. Its efficiency and fairness properties make it particularly appealing as a rule for fair allocation of resources among agents with possibly different entitlements. However, when the resources are indivisible, a CE might not exist even when there is one resource and two agents with equal incomes. Recently, Babaioff and Nisan and Talgam-Cohen (2017) have suggested to consider the entire space of possible incomes, and check
arXiv:1705.04212v6
fatcat:eowd3267qjgc5ddoj5ywlj3xqu