Foundations in Microeconomic Theory A Volume in Honor of Hugo F. Son
What a wonderful occasion it is to be celebrating 65 years of Hugo Sonn- schein! Given his many contributions to economic research and academia more broadly, there is much to celebrate. This volume, presented to Hugo at a confer ence in his honor at the
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Hugo F. Sonnenschein
Matthew O. Jackson • Andrew McLennan (Eds.)
Foundations in Microeconomic Theory A Volume in Honor of Hugo F. Sonnenschein
^ Springer
Professor Andrew McLennan School of Economics University of Queensland Rm. 520, Colin Clark Building The University of Queensland NSW 4072 Australia [email protected]
Professor Matthew O. Jackson Stanford University Department of Economics Stanford, CA 94305-6072 USA [email protected]
ISBN: 978-3-540-74056-8
e-ISBN: 978-3"540-74057-5
Library of Congress Control Number: 2007941253 © 2008 Springer-Verlag Berlin Heidelberg This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9,1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: WMX Design GmbH, Heidelberg Printed on acid-free paper 987654321 spnnger.com
Contents
Introduction
1
A Brief Biographical Sketch of Hugo F. Sonnenschein
5
1 Kevin C. Sontheimer on Hugo F. Sonnenschein An Existence Theorem for the Second Best Kevin C, Sontheimer
9 11
2 John Roberts on Hugo E Sonnenschein An EquiUbrium Model with Involuntary Unemployment at Flexible, Competitive Prices and Wages John Roberts
33
3 Kunio Kawamata on Hugo E Sonnenschein Price Distortion and Potential Welfare Kunio Kawamata
55
4 Salvador Barbera on Hugo E Sonnenschein The Manipulation of Social Choice Mechanisms That Do Not Leave "Too Much" to Chance Salvador Barbera
83
35
57
85
5 Javier Ruiz-Castillo on Hugo E Sonnenschein Residential Land Use Javier Ruiz-Castillo
101
6 WiUiam Novshek on Hugo E Sonnenschein Cournot Equilibrium with Free Entry William Novshek
109
7 Richard M. Peck on Hugo E Sonnenschein Power, Majority Voting, and Linear Income Tax Schedules Richard M. Peck
125
103
Ill
127
Contents 8 Andrew McLennan on Hugo F. Sonnenschein Sequential Bargaining as a Noncooperative Foundation for Walrasian Equilibrium Andrew McLennan and Hugo Sonnenschein
143
9 Dilip Abreu on Hugo F. Sonnenschein Virtual Implementaion in Iteratively Undominated Strategies: Complete Information Dilip Abreu and Hitoshi Matsushima
175
145
177
10 Vijay Krishna on Hugo F. Sonnenschein Finitely Repeated Games Jean-Pierre Benoit and Vijay Krishna
193
11 David G. Pearce on Hugo F. Sonnenschein Nonpaternalistic Sympathy and the Inefficiency of Consistent Intertemporal Plans David G, Pearce
213
