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Externalities, consumption constraints and regular economies

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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: ftp://mse.univ-paris1.fr/pub/mse/CES2008/B08011.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number b08011.

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Length: 30 pages
Date of creation: Feb 2008
Date of revision: Apr 2009
Handle: RePEc:mse:cesdoc:b08011

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Keywords: Externalities; consumption constraints; competitive equilibrium; regular economies.;

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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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