Initial Endowments

Some articles on initial endowments, initial, endowments:

Herbert Scarf - Major Works - 4. Core and Competitive Equilibrium Equivalence
... and is a redistribution of all agents’ initial endowments of goods ... Formally, a redistribution of all agents’ initial endowments of goods among all agents in the system is a core allocation if no group of agents can redistribute their own initial ...
General Equilibrium Theory - Unresolved Problems in General Equilibrium
... determining Arrow-Debreu equilibria include initial endowments of capital goods ... If production and trade occur out of equilibrium, these endowments will be changed further complicating the picture ... of convergence to equilibrium (assuming that occurs), endowments change ...

Famous quotes containing the words endowments and/or initial:

    Women generally should be taught that the rough life men must needs lead, in order to be healthy, useful and manly men, would preclude the possibility of a great degree of physical perfection, especially in color. It is not a bad reflection to know that in all probability the human animal has endowments enough without aspiring to be the beauty of all creation as well as the ruler.
    Caroline Nichols Churchill (1833–?)

    Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.
    Henry George (1839–1897)