PL EN


2013 | 9 (16) | 39-54
Article title

The private ownership economy with a reduced consumption sphere as an economic mechanism

Content
Title variants
Languages of publication
EN
Abstracts
EN
Let Ep be a Debreu private ownership economy in which every consumption set is contained in the proper subspace V of the commodity – price space . Two kinds of economic mechanisms, in the sense of Hurwicz, are designed. The goals of the design are, either the modified to the subspace V, producers’ and consumers’ optimal plans (plans maximizing appropriately profits or preferences on the budget sets) which form the state of equilibrium, or the modified to the subspace V production sets. In the presented economic mechanisms, the producers’ maximal profits do not decrease, and also the consumers’ preferences and the budget sets remain unchanged.
Year
Issue
Pages
39-54
Physical description
Contributors
References
  • Arrow K.J., Intriligator M.D. (eds.) (1987). Handbook of Mathematical Economics. Vol. 3. Amsterdam. North-Holland.
  • Cheney E.W. (1966). Introduction to Approximation Theory. McGraw-Hill. New York.
  • Debreu G. (1959). Theory of value. New York. Wiley.
  • Hurwicz L., Reiter S. (2006). Designing Economic Mechanism. Cambridge University Press. New York.
  • Lipieta A. (2010). The Debreu private ownership economy with complementary commodities and prices. Economic Modelling 27. Pp. 22-27.
  • Malawski A. (2005). A dynamical system approach to the Arrow – Debreu theory of general equilibrium. The 9th World Multi – Conference on Systemics, Cybernetics, and Informatics Proceedings. Vol. 7. July 10-13. Orlando. Florida. USA.
  • Werner J. (2010). Theory of mechanism design. Course Handouts. Warsaw.
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.desklight-75d0ee95-09e8-4389-b0f8-f18c2e12983c
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.