TY - JOUR
T1 - Dense families of low-complexity attainable sets of markets
AU - Billera, Louis J.
AU - Weber, Robert J.
N1 - Funding Information:
*Partially supported by National Science Foundation Grant no. MCS75-02024, Naval Research Contracts N00014-75-C-0678 and NOO014-77-C-0518.
PY - 1979/3
Y1 - 1979/3
N2 - 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.
AB - 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.
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U2 - 10.1016/0304-4068(79)90026-0
DO - 10.1016/0304-4068(79)90026-0
M3 - Article
AN - SCOPUS:49249140295
VL - 6
SP - 67
EP - 73
JO - Journal of Mathematical Economics
JF - Journal of Mathematical Economics
SN - 0304-4068
IS - 1
ER -