Existence Of Equilibria For Economies With Externalities And A Measure Space Of Consumers
AbstractThis paper considers an exchange economy with a measure space of agents and consumption externalities, which take into account two possible external e ects in consumers¡¯ preferences: the dependence upon prices and other agents¡¯ consumptions, respectively, as in Greenberg et al.  and Khan and Vohra  (see also Balder  for a general discussion). This allows to cover a general model of reference coalitions externalities, in which the agents¡¯ preferences are influenced by the global (or the mean) consumption of the agents in the finitely many reference coalitions. Our paper provides a general existence theorem of equilibria that extends previous results by Schmeidler , in the case of fixed reference coalitions and Noguchi , for a more particular concept of reference coalitions.
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Bibliographic InfoPaper provided by University of Kansas, Department of Economics in its series WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS with number 200505.
Length: 24 pages
Date of creation: Feb 2005
Date of revision: Feb 2005
Externalities; Reference coalitions; Measure space of agents; Equilibrium.;
Other versions of this item:
- Bernard Cornet & Mihaela Topuzu, 2005. "Existence of equilibria for economies with externalities and a measure space of consumers," Economic Theory, Springer, vol. 26(2), pages 397-421, 08.
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-03-06 (All new papers)
- NEP-MIC-2005-03-06 (Microeconomics)
- NEP-PBE-2005-03-06 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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