Open AccessNecessary and sufficient conditions for a Pareto optimal allocation in a discontinuous Gale economic model
Author(s) -
Anna Michalak,
Marcin Studniarski
Publication year - 2014
Publication title -
opuscula mathematica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.481
H-Index - 16
eISSN - 2300-6919
pISSN - 1232-9274
DOI - 10.7494/opmath.2014.34.4.827
Subject(s) - pareto principle , pareto optimal , mathematics , mathematical optimization , order (exchange) , mathematical economics , optimal allocation , multi objective optimization , economics , finance
In this paper we examine the concept of Pareto optimality in a simplified Gale economic model without assuming continuity of the utility functions. We apply some existing results on higher-order optimality conditions to get necessary and sufficient conditions for a locally Pareto optimal allocation
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