Dense families of low-complexity attainable sets of markets

Louis J. Billera; Robert J. Weber

doi:10.1016/0304-4068(79)90026-0

Dense families of low-complexity attainable sets of markets

Louis J. Billera^*, Robert J. Weber

^*Corresponding author for this work

Managerial Economics, Decision Sciences and Operations

Research output: Contribution to journal › Article › peer-review

Abstract

The complexity of the attainable set of utility outcomes of a market (with finitely many traders) is defined as the least number of commodities involved in any market giving the same set. This notion is investigated both for the case of quasiconcave and concave utility functions. It is shown that, in either case, there is a dense collection of attainable sets, each having complexity at most n(n-1)/2.

Original language	English (US)
Pages (from-to)	67-73
Number of pages	7
Journal	Journal of Mathematical Economics
Volume	6
Issue number	1
DOIs	https://doi.org/10.1016/0304-4068(79)90026-0
State	Published - Mar 1979

Funding

*Partially supported by National Science Foundation Grant no. MCS75-02024, Naval Research Contracts N00014-75-C-0678 and NOO014-77-C-0518.

ASJC Scopus subject areas

Economics and Econometrics
Applied Mathematics

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10.1016/0304-4068(79)90026-0

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author = "Billera, {Louis J.} and Weber, {Robert J.}",

note = "Funding Information: *Partially supported by National Science Foundation Grant no. MCS75-02024, Naval Research Contracts N00014-75-C-0678 and NOO014-77-C-0518.",

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Dense families of low-complexity attainable sets of markets

Abstract

Funding

ASJC Scopus subject areas

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