Acceptable and Walrasian allocations

Yair Tauman, Yan Chen

Research output: Contribution to journalArticlepeer-review

2 Scopus citations


The paper provides an axiomatic approach to mechanisms which determine the individuals' 'contributions' to the total welfare of society, for every finite pure exchange economy and for every allocation of the total resources. An efficient allocation is acceptable if it induces individual contributions that are not lower than the respective contributions with the initial allocation. We characterize the mechanism that satisfies our axioms, and in addition guarantees the existence of an acceptable allocation for every economy. We then show that the set of acceptable allocations (with respect to this mechanism) coincides with the set of Walrasian allocations with respect to the initial allocation.

Original languageEnglish
Pages (from-to)415-438
Number of pages24
JournalJournal of Mathematical Economics
Issue number3
StatePublished - Nov 2000


  • Individual contribution
  • Pure exchange economy
  • Walrasian allocation


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