Concave measures and the fuzzy core of exchange economies with heterogeneous divisible commodities

Date
2012
Authors
Hüsseinov, F.
Sagara, N.
Advisor
Supervisor
Co-Advisor
Co-Supervisor
Instructor
Source Title
Fuzzy Sets and Systems
Print ISSN
0165-0114
Electronic ISSN
1872-6801
Publisher
Elsevier BV
Volume
198
Issue
Pages
70 - 82
Language
English
Type
Article
Journal Title
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Abstract

The main purpose of this paper is to prove the existence of the fuzzy core of an exchange economy with a heterogeneous divisible commodity in which preferences of individuals are given by nonadditive utility functions defined on a σ-algebra of admissible pieces of the total endowment of the commodity. The problem is formulated as the partitioning of a measurable space among finitely many individuals. Applying the Yosida-Hewitt decomposition theorem, we also demonstrate that partitions in the fuzzy core are supportable by prices in L 1. © 2012 Elsevier B.V.

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Keywords
Concave measure, Fuzzy coalition, Fuzzy core, Nonatomic vector measure, Supporting price, Yosida-Hewitt decomposition, Artificial intelligence, Fuzzy sets, Domain decomposition methods
Citation
Published Version (Please cite this version)