Decentralized pure exchange processes on networks

IF 0.5 4区经济学 Q4 ECONOMICS

Social Choice and Welfare Pub Date : 2024-08-05 DOI:10.1007/s00355-024-01542-1

Daniele Cassese, Paolo Pin

引用次数: 0

Abstract

We define a class of pure exchange Edgeworth trading processes that under minimal assumptions converge to a stable set in the space of allocations, and characterise the Pareto set of these processes. Choosing a specific process belonging to this class, that we define fair trading, we analyse the trade dynamics between agents located on a weighted network. We determine the conditions under which there always exists a one-to-one map between the set of networks and the set of limit points of the dynamics, and derive an analog of the Second Welfare Theorem for networks. This result is used to explore what is the effect of the network topology on the trade dynamics and on the final allocation.

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网络上分散的纯交换过程

我们定义了一类纯交换埃奇沃思交易过程，在最小假设条件下，这些过程会收敛到分配空间中的一个稳定集合，并描述了这些过程的帕累托集合的特征。我们选择属于这一类的一个特定过程（我们将其定义为公平交易），分析位于加权网络上的代理人之间的交易动态。我们确定了网络集与动态极限点集之间始终存在一一对应映射的条件，并推导出网络的第二福利定理。我们利用这一结果来探讨网络拓扑结构对贸易动态和最终分配的影响。

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来源期刊

Social Choice and Welfare Multiple-

CiteScore

1.60

自引率

11.10%

发文量

期刊介绍： Social Choice and Welfare explores all aspects, both normative and positive, of welfare economics, collective choice, and strategic interaction. Topics include but are not limited to: preference aggregation, welfare criteria, fairness, justice and equity, rights, inequality and poverty measurement, voting and elections, political games, coalition formation, public goods, mechanism design, networks, matching, optimal taxation, cost-benefit analysis, computational social choice, judgement aggregation, market design, behavioral welfare economics, subjective well-being studies and experimental investigations related to social choice and voting. As such, the journal is inter-disciplinary and cuts across the boundaries of economics, political science, philosophy, and mathematics. Articles on choice and order theory that include results that can be applied to the above topics are also included in the journal. While it emphasizes theory, the journal also publishes empirical work in the subject area reflecting cross-fertilizing between theoretical and empirical research. Readers will find original research articles, surveys, and book reviews.Officially cited as: Soc Choice Welf