A perfect competition test - limiting coalitional incentive compatibility
FP4 — Training and Mobility of Researchers
- Duration
- 1997-12-15 → 1998-12-14
- EU contribution
- —
- Participants
- 2
- Scheme
- RGI
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Project objective
Research objectives and content The main objective of the proposed research is to analyze what kind of models of continuum economies with an infinite-dimensional commodity space are perfectly competitive, that is, we are interested in nonatomic economies and the boundaries of perfect competition. For this, we introduce a perfect competition test that we call coalitional incentive compatibility test. More precisely,.the purpose of the project is to study this test in the infinite-dimensional case. We are also interested in an attempt at a comparative study with respect to other perfect competition test, such as Core-Walras equivalence test. Training (objective benefit and expected impact) The project is related to the recent work by Ostroy and Zame (1994). We consider an economy with a continuum of agents who behave strategically (in excess demand correspondences). The commodity space is a measure space. This kind of models is frequently used in many of the common models of commodity differentiation. See, for example, Mas-Colell (1975), Jones (1984), Ostroy and Zame (1994).
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