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Externalities, consumption constraints and regular economies

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  • Jean-Marc Bonnisseau

    ()

  • Elena Mercato

    ()

Abstract

We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called possibility function. Utility and possibility functions depend on the consumptions of all households. Showing by means of an example that basic assumptions are not enough to guarantee generic regularity, we provide sufficient conditions for generic regularity in the space of endowments and possibility functions.

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File URL: http://hdl.handle.net/10.1007/s00199-009-0464-y
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 44 (2010)
Issue (Month): 1 (July)
Pages: 123-147

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Handle: RePEc:spr:joecth:v:44:y:2010:i:1:p:123-147

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Related research

Keywords: Externalities; Consumption constraints; Competitive equilibrium; Regular economies; C62; D50; D62;

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References

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Cited by:
  1. Yves Balasko, 2013. "Social demand functions in general equilibrium," Textos para discussão 609, Department of Economics PUC-Rio (Brazil).

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