Econometrica: May 1993, Volume 61, Issue 3

Consistent Solutions in Atomless Economies

https://doi.org/0012-9682(199305)61:3<575:CSIAE>2.0.CO;2-3
p. 575-587

Lin Zhou, William Thomson

We consider the problem of allocating a bundle of commodities among a group of agents who are collectively entitled to them. We prove: For an atomless economy with possibly satiated preferences, any solution that is efficient, equitable, and consistent must select allocations that are supported by equal-budget Walrasian equilibria with slack.
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