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 -