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To transfer or to destroy

Milind Rao
Social Choice and Welfare
Vol. 10, No. 2 (April 1993), pp. 177-184
Published by: Springer
Stable URL: http://www.jstor.org/stable/41106054
Page Count: 8
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To transfer or to destroy
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Abstract

The transfer problem is by now well understood. In an important book Chichilnisky-Heal provide an example of a related paradox - the destroy paradox - in the context of a Walrasian stable economy. It is evident, however, that the paradox depends on the underlying data - tastes, preferences, and net export positions - of the economy. This paper gives necessary and sufficient conditions on the underlying data of a globally Walrasian stable Leontief economy for the occurrence of this paradox. The relationship between the transfer and destroy paradoxes in an economy with Leontief preferences is explored.

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