Replica Core Equivalence Theorem : An Extension of the Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies

Urai, Ken; Murakami, Hiromi

Replica Core Equivalence Theorem : An Extension of the Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies

Urai, Ken; Murakami, Hiromi

Discussion Papers In Economics And Business, 2015, 14-35-Rev.2, 1-6

Number of Access:472（2025-08-27 04:45 Counts）

Identifier to cite or link to this item: https://hdl.handle.net/11094/50985

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Title	Replica Core Equivalence Theorem : An Extension of the Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies
Creator	NRID 1000000203597 1000000203597 researchmap permalink read0175173 read0175173 Scopus Author ID 24287014300 24287014300 CreatorName Urai, Ken
Creator	NRID 1000080803072 1000080803072 CreatorName Murakami, Hiromi
Subject	Monetary Equilibrium
	Overlapping Generations Model
	Core Equivalence
	Replica Economy
	Non-Orderd Preference
Description	* Revised：Replica Core Equivalence Theorem: An Extension of Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies [14-35, 2014]
Description	* Revised： [14-35-Rev., 2015]
Abstract	An overlapping generations model with the double infinity of commodities and agents is the most fundamental framework to introduce outside money into a static economic model. In this model, competitive equilibria may not necessarily be Pareto-optimal. Although Samuelson (1958) emphasized the role of at money as a certain kind of social contract, we cannot characterize it as a cooperative game-theoretic solution like a core. In this paper, we obtained a finite replica core characterization of Walrasian equilibrium allocations under non-negative wealth transfer and a core-limit characterization of Samuelson's social contrivance of money. Preferences are not necessarily assumed to be ordered.
Publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
Source Title	Discussion Papers In Economics And Business
Volume (Issue)	14-35-Rev.2
Page	1-6
Date of Issued	2015-05
Language	English
Handle URL	https://hdl.handle.net/11094/50985
NCID	AA1160366X
Relation.references	URI http://www2.econ.osaka-u.ac.jp/library/global/dp/1435R2.pdf
Access Rights	metadata only access
Category	ディスカッション／ワーキング・ペーパー DP/WP
Category	Discussion Papers In Economics And Business
Date.Updated	2015-03
Date.Updated	2015-05

Resource Type	technical report
Local Type	DP/WP
DCMI Type	Text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business. 2015, 14-35-Rev.2, p. 1-6
DC.title	Replica Core Equivalence Theorem : An Extension of the Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies
DC.creator	Urai, Ken
DC.creator	Murakami, Hiromi
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
DC.language' scheme='DCTERMS.RFC1766	English
DC.type' scheme='DCTERMS.DCMIType	Text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2015-05
DC.relation' scheme='DCTERMS.URI	http://www2.econ.osaka-u.ac.jp/library/global/dp/1435R2.pdf
DC.subject	Monetary Equilibrium
	Overlapping Generations Model
	Core Equivalence
	Replica Economy
	Non-Orderd Preference
DC.description	* Revised：Replica Core Equivalence Theorem: An Extension of Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies [14-35, 2014]
DC.description	* Revised： [14-35-Rev., 2015]
DCTERMS.abstract	An overlapping generations model with the double infinity of commodities and agents is the most fundamental framework to introduce outside money into a static economic model. In this model, competitive equilibria may not necessarily be Pareto-optimal. Although Samuelson (1958) emphasized the role of at money as a certain kind of social contract, we cannot characterize it as a cooperative game-theoretic solution like a core. In this paper, we obtained a finite replica core characterization of Walrasian equilibrium allocations under non-negative wealth transfer and a core-limit characterization of Samuelson's social contrivance of money. Preferences are not necessarily assumed to be ordered.
DC.format	50985
citation_title	Replica Core Equivalence Theorem : An Extension of the Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies
citation_author	Urai, Ken
citation_author	Murakami, Hiromi
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
citation_language	English
citation_date	2015-05
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	14-35-Rev.2
citation_firstpage	1
citation_lastpage	6
citation_public_url	https://hdl.handle.net/11094/50985
citation_abstract_html_url	http://www2.econ.osaka-u.ac.jp/library/global/dp/1435R2.pdf

Replica Core Equivalence Theorem : An Extension of the Debreu-Scarf Limit Theorem to Double Infinity Monetary Economies

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