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Competitive markets with externalities

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Author Info

  • Zame, William R.

    ()
    (UCLA)

  • Noguchi, Mitsunori

    ()
    (Meijo University)

Abstract

This paper presents a general model of a competitive market with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The model allows production and indivisible goods. Examples illustrate the generality and applicability of the results.

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Bibliographic Info

Article provided by Econometric Society in its journal Theoretical Economics.

Volume (Year): 1 (2006)
Issue (Month): 2 (June)
Pages: 143-166

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Handle: RePEc:the:publsh:168

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Web page: http://econtheory.org

Related research

Keywords: Competitive equilibrium; externalities; distributional economies;

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Cited by:
  1. Martin Meier & Enrico Minelli & Herakles Polemarchakis, 2009. "Competitive Markets with Private Information on Both Sides," Working Papers 0917, University of Brescia, Department of Economics.
  2. Balder, Erik J., 2008. "More on equilibria in competitive markets with externalities and a continuum of agents," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 575-602, July.
  3. Martin Dufwenberg & Paul Heidhues & Georg Kirchsteiger & Frank Riedel & Joel Sobel, 2011. "Other-Regarding Preferences in General Equilibrium," ULB Institutional Repository 2013/149598, ULB -- Universite Libre de Bruxelles.
  4. Noguchi, Mitsunori, 2009. "Existence of Nash equilibria in large games," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 168-184, January.
  5. Khan, M. Ali Khan, 2007. "Perfect Competition," MPRA Paper 2202, University Library of Munich, Germany.
  6. Jean-Marc Bonnisseau & Elena L. Del Mercato, 2008. "Externalities, consumption constraints and regular economies," Documents de travail du Centre d'Economie de la Sorbonne b08011, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, revised Apr 2009.
  7. M. Ali Khan, 2007. "Perfect Competition," PIDE-Working Papers 2007:15, Pakistan Institute of Development Economics.
  8. Yves Balasko, 2013. "Social demand functions in general equilibrium," Textos para discussão 609, Department of Economics PUC-Rio (Brazil).
  9. Kung, Fan-chin, 2008. "Voluntary contributions to multiple public goods in a production economy with widespread externalities," Journal of Mathematical Economics, Elsevier, vol. 44(12), pages 1364-1378, December.

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