{"id":8818,"date":"2022-07-27T06:34:25","date_gmt":"2022-07-27T06:34:25","guid":{"rendered":"https:\/\/depocen.org\/publications\/walras-and-dividends-equilibrium-withpossibly-satiated-consumers\/"},"modified":"2022-07-27T06:34:25","modified_gmt":"2022-07-27T06:34:25","slug":"walras-and-dividends-equilibrium-withpossibly-satiated-consumers","status":"publish","type":"publications","link":"https:\/\/depocen.org\/vi\/publications\/walras-and-dividends-equilibrium-withpossibly-satiated-consumers\/","title":{"rendered":"Walras and Dividends Equilibrium With\r\nPossibly Satiated Consumers."},"content":{"rendered":"<p>The main contribution of the paper is to provide a weaker nonsatiation assumption than the one commonly used in the literature<br \/>\nto ensure the existence of competitive equilibrium. Our assumption<br \/>\nallows for satiation points in the set of individually feasible consump-<br \/>\ntions, provided that the consumer has satiation points available to<br \/>\nhim outside this set. As a result, we show the concept of equilibrium<br \/>\nwith dividends (See Aumann and Dreze (1986), Mas-Collel (1992)) is<br \/>\npertinent only when the set of satiation points is included in the set of<br \/>\nindividually feasible consumptions. Our economic motivation stems<br \/>\nfrom the fact that in decentralized markets, increasing the incomes of<br \/>\nconsumers through dividends, if it is possible, is costly since it involves<br \/>\nthe intervention of a social planner. Then, we show, in particular, how<br \/>\nin securities markets our weak nonsatiation assumption is satisfied by<br \/>\nWerner&#8217;s (1987) assumption.<\/p>\n","protected":false},"featured_media":0,"template":"","cate_publications":[],"author_publications":[1556,1626],"topic_publications":[],"class_list":["post-8818","publications","type-publications","status-publish","hentry","author_publications-cuong-le-van","author_publications-nizar-allouch"],"acf":[],"_links":{"self":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/publications\/8818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/publications"}],"about":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/types\/publications"}],"wp:attachment":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/media?parent=8818"}],"wp:term":[{"taxonomy":"cate_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/cate_publications?post=8818"},{"taxonomy":"author_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/author_publications?post=8818"},{"taxonomy":"topic_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/topic_publications?post=8818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}