The competitive allocation process is informationally efficient uniquely

DOI10.1016/0022-0531(82)90088-6zbMath0486.90021OpenAlexW1999340677WikidataQ56047188 ScholiaQ56047188MaRDI QIDQ1165138

James S. Jordan

Publication date: 1982

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://purl.umn.edu/54971

zbMATH Keywords

informational efficiencyPareto optimal allocationsinformationally decentralized mechanismcompetitive allocation processexchange environments

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items (17)

On informational efficiency and incentive aspects of generalized ratio equilibria ⋮ On the complexity of price equilibria ⋮ A study of choice correspondences in economies with a variable number of agents ⋮ A lower bound on computational complexity given by revelation mechanisms ⋮ An axiomatic characterization of the price-money message mechanism for economies with satiation ⋮ A property of the demand correspondence of a concave utility function ⋮ The communication requirements of social choice rules and supporting budget sets ⋮ Incentive compatibility and individual rationality in public good economies ⋮ Fractional matching markets ⋮ Auction protocols for decentralized scheduling ⋮ The communication requirements of efficient allocations and supporting prices ⋮ The unique informational efficiency of the competitive mechanism in economies with production ⋮ Network mechanisms, informational efficiency, and hierarchies ⋮ Communication complexity and stability of equilibria in economies and games ⋮ On the informational efficiency of the competitive resource allocation process ⋮ The representation problem and the efficiency of the price mechanism ⋮ A learning-efficiency explanation of structure in language

Cites Work

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• A property of the demand correspondence of a concave utility function
• On the informational size of message spaces
• On the informational size of message spaces for resource allocation processes
• Expectations equilibrium and informational efficiency for stochastic environments

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