jueves, 11 de diciembre de 2008



Francis Ysidro Edgeworth's

Mathematical Psychics: An Essay on the Application of Mathematics to the Moral Sciences

Edgeworth proposed the contract curve as a solution to the problem of determining the outcome of trading between individuals. In a world of two commodities and two types of consumers he demonstrated that the contract curve shrinks to the set of competitive equilibria as the number of consumers of each type becomes infinite. The concept of the core is a generalisation of Edgeworth's contract curve.