Browsing by Subject "Gale model"
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Item type:Article, Access status: Open Access , Necessary and sufficient conditions for a Pareto optimal allocation in a discontinuous Gale economic model(2014) Michalak, Anna; Studniarski, MarcinIn 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.