We consider a perfectly competitive ex ante economy with a continuum of agents and negligible asymmetric information. For such an economy we recast the basic classical results on the existence of Walrasian equilibrium, core equivalence, and the blocking size of coalitions. Moreover, we examine the incentive compatibility of the ex ante Pareto, core and Walrasian allocations. © 2007 Elsevier Inc...

We address the following issue: what can be said about the degree of competition, in a set of markets with a large number of participants, when no information on the distribution of individual characteristics is available? Our main result is that the proportion of individuals whose strategic behavior differs substantially from price taking, converges to zero as the number of market participants...

It is well known that a competitive equilibrium may fail to exist when preferences are possibly satiated. We show that this non-existence problem does not arise if one of the commodities is paper money. Moreover, and equilibrium is weakly Pareto efficient in the economy with money. This paper therefore gives an economic solution to the classical problem of non-existence of competitive equilibri...

We show that in large …nite economies, core allocations can be approximately decentralized as Nash (rather than Walras) equilibrium. We argue that this exercise is an essential complement to asymptotic core equivalence results, because it implies that in some approximate sense individual attempts to manipulate the decentralizing prices cannot be bene…cial, which …ts precisely the interpretation...

The walleye pollock Gadus chalcogrammus is an important commercial species in Japan whose larvae and eggs may be negatively affected by the cold water mass from coastal Oyashio current that present spawning ground of Japanese Pacific stock this species. Therefore, we investigated egg larval specific density, mortality, behavioral response to temperature change during ontogenetic development und...

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the cr...

We introduce and justify a taxonomy for the structure of markets and minimal institutions which appear in constructing minimally complex trading structures to perform the functions of price formation, settlement and payments. Each structure is presented as a playable strategic market game and is examined for its efficiency, the number of degrees of freedom and the symmetry properties of the str...

For the case of smooth concave exchange economies, we provide a characterization of the inner core as the set of feasible allocations such that no coalition can improve on it, even if coalitions are allowed to use some random plans. For the case of compactly generated games, we discuss Myerson’s definition of the inner core, and we characterize it using lexicographic utility weight systems.  2...

Scanning electron microscopy-energy dispersive X-ray analysis (SEM-EDX) and X-ray diffraction (XRD) systems were used to demonstrate the overgrowth of soot to fractal like structure and its subsequent coalescence with crystal shaped silicate particles. Sample was obtained from a very clean area of Delhi at a height of 16 m from ground with the help of a five stage cascade impactor in the winter...

BACKGROUND Thyroid dysfunction is common after radiotherapy (RT) for patients with head and neck cancers. We attempted to discover RT dose parameters that correspond with RT-induced thyroid dysfunction. METHODS Records of 102 patients who received RT from 2008 to 2010 were reviewed with respect to thyroid function. Abnormalities were grouped in 2 ways: (1) none, transient, or permanent; and (...