Contractual Stability and Competitive Equilibrium in a Pure Exchange Economy

In the paper, a game-theoretical analysis of some stable outcomes in pure exchange economies is given. We deal, mostly, with an equilibrium characterization of unblocked allocations generated by recontracting process close to the one introduced by V. L. Makarov [Makarov, 1980]. Rather mild assumptions, providing coincidence of the corresponding contractual core and the set of Walrasian equilibrium allocations, are established, and two examples, demonstrating relevance of the main assumptions, are proposed.