A model of a pure exchange economy is investigated without the usual assumption of convex preference sets for the participating traders. The concept of core, taken from the theory of games, is applied to show that if there are sufficiently many participants, the economy as a whole will posses a solution that is sociologically stable--i.e., that cannot profitably be upset by any coalition of traders.
MLA
Shapley, L. S., and M. Shubik. “Quasi-Cores in a Monetary Economy with Nonconvex Preferences.” Econometrica, vol. 34, .no 4, Econometric Society, 1966, pp. 805-827, https://www.jstor.org/stable/1910101
Chicago
Shapley, L. S., and M. Shubik. “Quasi-Cores in a Monetary Economy with Nonconvex Preferences.” Econometrica, 34, .no 4, (Econometric Society: 1966), 805-827. https://www.jstor.org/stable/1910101
APA
Shapley, L. S., & Shubik, M. (1966). Quasi-Cores in a Monetary Economy with Nonconvex Preferences. Econometrica, 34(4), 805-827. https://www.jstor.org/stable/1910101
Serena Ng stepped down as Coeditor of the Monograph Series on June 30, 2026. On July 1st, Peter Arcidiacono became the new Coeditor responsible for theoretical and applied econometrics.
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