General Equilibrium with Multi-Member Households and Production
AbstractWe consider firms and multi-member households operating in a competitive market environment. Households are endowed with resources (commodity bundles) and shares of firm ownership. Household members are characterized by individual preferences, possibly with intra-household consumption externalities. Household decisions adhere to the collective rationality model. Existence of general equilibrium and validity of the first welfare theorem are investigated.
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Bibliographic InfoPaper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3659.
Date of creation: 2011
Date of revision:
household behavior; general equilibrium; production;
Find related papers by JEL classification:
- D10 - Microeconomics - - Household Behavior - - - General
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
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