Necessary and sufficient conditions for a Pareto optimal allocation in a discontinuous Gale economic model

• Autorzy: Michalak A. , Studniarski M.

Identyfikatory

DOI

http://dx.doi.org/10.7494/OpMath.2014.34.4.827

• Języki publikacji: EN

Abstrakty

EN

In this paper we examine the concept of Pareto optimality in a simplified Gale economic model without assuming continuity of the utility functions. We apply some existing results on higher-order optimality conditions to get necessary and sufficient conditions for a locally Pareto optimal allocation.

Słowa kluczowe

EN

Gale model; discontinuous functions; generalized directional derivatives; higher-order conditions; Pareto optimality

• Wydawca: AGH University of Science and Technology Press
• Czasopismo: Opuscula Mathematica
• Rocznik: 2014
• Tom: Vol. 34, no. 4
• Strony: 827--835
• Opis fizyczny: BIbliogr. 5 poz.

Twórcy

autor

Michalak A.

• University of Łódz Faculty of Economics and Sociology Department of Econometrics Rewolucji 1905 r. No. 41, 90-214 Łódz, Poland

autor

Studniarski M.

• University of Łódz Faculty of Mathematics and Computer Science Chair of Algorithms and Databases S. Banacha No. 22, 90-238 Łódz, Poland

Bibliografia

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• [4] E.-D. Rahmo, M. Studniarski, Higher-order conditions for strict local Pareto minima in terms of generalized lower and upper directional derivatives. J. Math. Anal. Appl. 393 (2012), 212–221.
• [5] G. Tian, Existence of equilibrium in abstract economies with discontinuous payoffs and non-compact choice spaces, J. Math. Econ. 21 (1992), 379–388.