タイトル（掲載誌）Discussion Papers In Economics And Business
一般注記An axiomatic characterization of price or market mechanisms is one of the most important problems in general equilibrium theory. Based on the general equilibrium framework and the characterization of the price mechanism, this paper provides a new perspective or a unified viewpoint on some axioms in social choice theory and a setting for the informational efficiency problem of the allocation mechanisms. Our arguments focus on a contemporary reconsideration and generalization of the category theoretic method in Sonnenschein (1974) and the replica stability arguments in social choice theory like Thomson (1988) and Nagahisa (1994). Sonnenschein's axiomatic characterization of the price mechanism is extended to an economy-dependent welfare form of a universal implementability theorem. The framework provides new methods and general settings in treating mechanisms with messages or information, and many social choice axioms. Our result also has an important economic interpretation that the price mechanism can be characterized as a universal rule that is stable in assuring sufficiently high utility levels for each member of a small economy relative to its large expansions.
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）