This content originally appeared on HackerNoon and was authored by Tokenomy
Table of Links
A free and fair economy: definition, existence and uniqueness
Equilibrium existence in a free and fair economy
A free economy with social justice and inclusion
5.1 Equilibrium existence and efficiency in a free economy with social justice
5.2 Choosing a reference point to achieve equilibrium efficiency
Some applications
6.1 Teamwork: surplus distribution in a firm
6.2 Contagion and self-enforcing lockdown in a networked economy
5.2 Choosing a reference point to achieve equilibrium efficiency
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\ Remark that this result holds for any value of α, including for α = 1, which corresponds to a situation where the tax rate is zero. In that case, the entire surplus of the economy is distributed following the Shapley value. The analysis implies that if an economy can choose its reference point, it can always do so to lead to equilibrium efficiency.
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:::info Authors:
(1) Ghislain H. Demeze-Jouatsa, Center for Mathematical Economics, University of Bielefeld (demeze jouatsa@uni-bielefeld.de);
(2) Roland Pongou, Department of Economics, University of Ottawa (rpongou@uottawa.ca);
(3) Jean-Baptiste Tondji, Department of Economics and Finance, The University of Texas Rio Grande Valley (jeanbaptiste.tondji@utrgv.edu).
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:::info This paper is available on arxiv under CC BY 4.0 DEED license.
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This content originally appeared on HackerNoon and was authored by Tokenomy
Tokenomy | Sciencx (2025-09-17T14:30:04+00:00) The Role of Reference Points in Achieving Equilibrium Efficiency in Fair and Socially Just Economies. Retrieved from https://www.scien.cx/2025/09/17/the-role-of-reference-points-in-achieving-equilibrium-efficiency-in-fair-and-socially-just-economies/
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