Abstract
The core of an economy consists of those states of the economy which no group of agents can ‘improve upon’. A group of agents can improve upon a state of the economy if, by using the means available to that group, each member can be made better off. Nothing is said in this definition of how a state in the core actually is reached. The actual process of economic transactions is not considered explicitly.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Bibliography
Anderson, R.M. 1978. An elementary core equivalence theorem. Econometrica 46, 1483–7.
Anderson, R.M. 1981. Core theory with strongly convex preferences. Econometrica 49, 1457–68.
Aumann, R.J. 1964. Markets with a continuum of traders. Econometrica 32, 39–50.
Bewley, T.F. 1973. Edgeworth’s conjecture. Econometrica 41, 425–54.
Debreu, G. 1975. The rate of convergence of the core of an economy. Journal of Mathematical Economics 2, 1–8.
Debreu, G. and Scarf, H. 1963. A limit theorem on the core of an economy. International Economic Review 4, 235–46.
Edgeworth, F.Y. 1881. Mathematical Psychics. London: Kegan Paul. Reprinted New York: A.M. Kelley, 1967.
Grodal, B. 1975. The rate of convergence of the core for a purely competitive sequence of economies. Journal of Mathematical Economics 2, 171–86.
Hildenbrand, W. 1974. Core and Equilibria of a Large Economy. Princeton: Princeton University Press.
Hildenbrand, W. 1982. Core of an economy. In Handbook of Mathematical Economics, ed. K.J. Arrow and M.D. Intriligator, Vol. II, Amsterdam: North-Holland.
Hildenbrand, W. and Kirman, A.P. 1976. Introduction to Equilibrium Analysis. Amsterdam: North-Holland.
Mas-Colell, A. 1985. The Theory of General Economic Equilibrium, A Differentiable Approach. Cambridge: Cambridge University Press.
Vind, K. 1965. A theorem on the core of an economy. Review of Economic Studies 32, 47–8.
Editor information
Copyright information
© 1989 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Hildenbrand, W. (1989). Cores. In: Eatwell, J., Milgate, M., Newman, P. (eds) General Equilibrium. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-19802-3_11
Download citation
DOI: https://doi.org/10.1007/978-1-349-19802-3_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-49525-4
Online ISBN: 978-1-349-19802-3
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)