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Externalities, Consumption Constraints and Regular Economies

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Author Info
Jean-Marc Bonnisseau () (Paris School of Economics and Universitè Paris 1 Panthèon-Sorbonne)
Elena L. del Mercato () (University of Salerno and CSEF)

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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. Our goal is to give sufficient conditions for the regularity of such economies. We prove that, generically, economies are regular in the space of endowments and possibility functions.

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Publisher Info
Paper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 195.

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Date of creation: 11 Feb 2008
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Handle: RePEc:sef:csefwp:195

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Related research
Keywords: Externalities; consumption constraints; competitive equilibrium; regular economies;

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Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
D62 - Microeconomics - - Welfare Economics - - - Externalities

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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.:
  1. Andrés Carvajal, . "Testable Restrictions of General Equilibrium Theory in Exchange Economies with Externalities," Borradores de Economia 231, Banco de la Republica de Colombia. [Downloadable!]
    Other versions:
  2. Shannon, Chris, 1994. "Regular nonsmooth equations," Journal of Mathematical Economics, Elsevier, vol. 23(2), pages 147-165, March. [Downloadable!] (restricted)
  3. Polemarchakis, H. M. & Siconolfi, P., 1997. "Generic existence of competitive equilibria with restricted participation," Journal of Mathematical Economics, Elsevier, vol. 28(3), pages 289-311, October. [Downloadable!] (restricted)
  4. Bernard Cornet & Mihaela Topuzu, 2005. "Existence Of Equilibria For Economies With Externalities And A Measure Space Of Consumers," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200505, University of Kansas, Department of Economics, revised Feb 2005. [Downloadable!]
    Other versions:
  5. Cass, David, 1991. "Incomplete financial markets and indeterminacy of competitive equilibrium," CEPREMAP Working Papers (Couverture Orange) 9107, CEPREMAP.
  6. Zame, William R. & Noguchi, Mitsunori, 2006. "Competitive markets with externalities," Theoretical Economics, Society for Economic Theory, vol. 1(2), pages 143-166, June. [Downloadable!]
  7. Monique Florenzano, 2008. "General equilibrium," Documents de travail du Centre d'Economie de la Sorbonne b08005, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne. [Downloadable!]
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  8. Cass, David & Siconolfi, Paolo & Villanacci, Antonio, 2001. "Generic regularity of competitive equilibria with restricted participation," Journal of Mathematical Economics, Elsevier, vol. 36(1), pages 61-76, September. [Downloadable!] (restricted)
  9. del Mercato, Elena L., 2006. "Existence of competitive equilibria with externalities: A differential viewpoint," Journal of Mathematical Economics, Elsevier, vol. 42(4-5), pages 525-543, August. [Downloadable!] (restricted)
    Other versions:
  10. Balasko, Yves & Cass, David & Siconolfi, Paolo, 1990. "The structure of financial equilibrium with exogenous yields : The case of restricted participation," Journal of Mathematical Economics, Elsevier, vol. 19(1-2), pages 195-216. [Downloadable!] (restricted)
  11. Bonnisseau, Jean-Marc, 2003. "Regular economies with non-ordered preferences," Journal of Mathematical Economics, Elsevier, vol. 39(3-4), pages 153-174, June. [Downloadable!] (restricted)
  12. Paul Heidhues & Frank Riedel, 2007. "Do social preferences matter in competitive markets?," Working Papers 392, Bielefeld University, Institute of Mathematical Economics. [Downloadable!]
  13. 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. [Downloadable!] (restricted)
  14. Allen, Beth, 1981. "Utility perturbations and the equilibrium price set," Journal of Mathematical Economics, Elsevier, vol. 8(3), pages 277-307, October. [Downloadable!] (restricted)
  15. Atsushi Kajii & Antonio Villanacci & Alessandro Citanna, 1998. "Constrained suboptimality in incomplete markets: a general approach and two applications," Economic Theory, Springer, vol. 11(3), pages 495-521. [Downloadable!] (restricted)
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