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General Equilibrium with Multi-Member Households and Production

  • Hans Gersbach
  • Hans Haller

We 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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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2011/wp-cesifo-2011-11/cesifo1_wp3659.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3659.

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Date of creation: 2011
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Handle: RePEc:ces:ceswps:_3659
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  1. Michele Gori, 2010. "Endogenous household formation and inefficiency in a general equilibrium model," Working Papers - Mathematical Economics 2010-09, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa, revised Oct 2010.
  2. Hans Gersbach & Hans Haller, 2009. "Club Theory and Household Formation," CER-ETH Economics working paper series 09/110, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  3. Hans Gersbach & Hans Haller, 2002. "Competitive Markets, Collective Decisions and Group Formation," Discussion Papers 02-11, University of Copenhagen. Department of Economics.
  4. Hans Gersbach & Hans Haller, 2005. "Bargaining Power and Equilibrium Consumption," CESifo Working Paper Series 1448, CESifo Group Munich.
  5. Xiong, Siyang & Zheng, Charles Zhoucheng, 2007. "Core Equivalence Theorem with Production," Staff General Research Papers 12697, Iowa State University, Department of Economics.
  6. Donald A. Walker (ed.), 2000. "Equilibrium," Books, Edward Elgar Publishing, volume 0, number 1585, April.
  7. Hans Gersbach & Hans Haller, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Oxford University Press, vol. 68(2), pages 347-368.
  8. Apps,Patricia & Rees,Ray, 2009. "Public Economics and the Household," Cambridge Books, Cambridge University Press, number 9780521716284, November.
  9. Michele Gori & Antonio Villanacci, 2011. "A bargaining model in general equilibrium," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(3), pages 327-375, April.
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