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Allais' trading process and the dynamic evolution of a market economy

Abstract : We construct a simple trading process that is based on the maximization, at each stage, of the total distributable surplus. We show that this process converges to a Pareto optimal allocation.
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https://halshs.archives-ouvertes.fr/halshs-00499371
Contributor : Jean-Marc Tallon Connect in order to contact the contributor
Submitted on : Friday, July 9, 2010 - 12:09:33 PM
Last modification on : Monday, October 11, 2021 - 10:04:51 AM

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Jean-Michel Courtault, Jean-Marc Tallon. Allais' trading process and the dynamic evolution of a market economy. Economic Theory, Springer Verlag, 2000, 16 (2), pp.477-481. ⟨10.1007/s001990050016⟩. ⟨halshs-00499371⟩

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