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Convergent Non-Tatonnement Resource Allocation Processes for Non-Classical Environments

Osana, Hiroaki
1976-02
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https://hdl.handle.net/11299/54817
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Convergent Non-Tatonnement Resource Allocation Processes for Non-Classical Environments

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1976-02

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Center for Economic Research, Department of Economics, University of Minnesota

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Working Paper

Abstract

Two classes of decentralized non-tatonnement resource allocation processes, one for non-decomposable environments and the other for decomposable environments, are presented which are non-wasteful and unbiased and have certain stability properties. Non-convexities and indivisibilities are admitted, though the purely indivisible case is ruled out. The essential environmental requirements are local non-satiation of preference relations and continuity of preference relations and technology.

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Center for Economic Research Discussion Papers

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Discussion Paper
64

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Osana, H., (1976), "Convergent Non-Tatonnement Resource Allocation Processes for Non-Classical Environments", Discussion Paper No. 64, Center for Economic Research, Department of Economics, University of Minnesota.

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Osana, Hiroaki. (1976). Convergent Non-Tatonnement Resource Allocation Processes for Non-Classical Environments. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/54817.

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