Opuscula Math. 34, no. 4 (2014), 827-835
http://dx.doi.org/10.7494/OpMath.2014.34.4.827

 
Opuscula Mathematica

Necessary and sufficient conditions for a Pareto optimal allocation in a discontinuous Gale economic model

Anna Michalak
Marcin Studniarski

Abstract. 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.

Keywords: Gale model, discontinuous functions, generalized directional derivatives, higher-order conditions, Pareto optimality.

Mathematics Subject Classification: 91B50, 90C29, 49J52.

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  • Anna Michalak
  • University of Łódź, Faculty of Economics and Sociology, Department of Econometrics, Rewolucji 1905 r. No. 41, 90-214 Łódź, Poland
  • Marcin Studniarski
  • University of Łódź, Faculty of Mathematics and Computer Science, Chair of Algorithms and Databases, S. Banacha No. 22, 90-238 Łódź, Poland
  • Received: 2014-05-02.
  • Revised: 2014-09-29.
  • Accepted: 2014-09-29.
Opuscula Mathematica - cover

Cite this article as:
Anna Michalak, Marcin Studniarski, Necessary and sufficient conditions for a Pareto optimal allocation in a discontinuous Gale economic model, Opuscula Math. 34, no. 4 (2014), 827-835, http://dx.doi.org/10.7494/OpMath.2014.34.4.827

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