A Note on the Characterization of Optimal Allocations in OLG Models with Multiple Goods
Article dans une revue: We consider a pure exchange overlapping generations economy with a varying number of commodities and consumers per period having possibly non-complete non transitive preferences. We provide a geometric and direct proof of the Balasko-Shell characterization of Pareto optimal allocations. As a by-product, we compute an explicit Pareto improving transfer when the criterion is not satisfied, which is minimal for some suitable distance.
Auteur(s)
Jean-Marc Bonnisseau, Lalaina Rakotonindrainy
Revue
- Set-Valued and Variational Analysis
Date de publication
- 2015
Mots-clés
- Overlapping generations model
- Non complete non transitive preferences
- Normal cone
- Equilibrium
- Pareto optimality
Pages
- 10.1007/s11228-015-0342-7
URL de la notice HAL
Version
- 1