Abstract
This paper investigates the existence of envy-free and Pareto efficient allocations in economies with finitely many indivisible goods and one divisible good (money). The existence of envy-free allocations is proved under very weak conditions, but the paper contains an example of an economy in which the set of envy-free allocations and the set of Pareto efficient allocations are disjoint. It contains moreover sufficient conditions for an economy in which the existence of an envy-free and Pareto efficient allocation is assured.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
