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Competitive markets with externalities

Author

Listed:
  • ,

    (Meijo University)

  • , R.

    (UCLA)

Abstract

This paper presents a general model of a competitive market with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The model allows production and indivisible goods. Examples illustrate the generality and applicability of the results.

Suggested Citation

  • , & , R., 2006. "Competitive markets with externalities," Theoretical Economics, Econometric Society, vol. 1(2), pages 143-166, June.
    • Handle: RePEc:the:publsh:168
    as

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    File URL: http://econtheory.org/ojs/index.php/te/article/viewFile/20060143/610/19
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    Citations

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    Cited by:

    1. Jean-Marc Bonnisseau & Elena Mercato, 2010. "Externalities, consumption constraints and regular economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 44(1), pages 123-147, July.
    2. M. Ali Khan, 2007. "Perfect Competition," PIDE-Working Papers 2007:15, Pakistan Institute of Development Economics.
    3. Qiao, Lei & Yu, Haomiao & Zhang, Zhixiang, 2016. "On the closed-graph property of the Nash equilibrium correspondence in a large game: A complete characterization," Games and Economic Behavior, Elsevier, vol. 99(C), pages 89-98.
    4. Martin Dufwenberg & Paul Heidhues & Georg Kirchsteiger & Frank Riedel & Joel Sobel, 2011. "Other-Regarding Preferences in General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(2), pages 613-639.
    5. Martin Dufwenberg & Paul Heidhues & Georg Kirchsteiger & Frank Riedel & Joel Sobel, 2011. "Other-Regarding Preferences in General Equilibrium," Review of Economic Studies, Oxford University Press, vol. 78(2), pages 613-639.
    6. Khan, Mohammed Ali & Rath, Kali P. & Yu, Haomiao & Zhang, Yongchao, 2017. "On the equivalence of large individualized and distributionalized games," Theoretical Economics, Econometric Society, vol. 12(2), May.
    7. He, Wei & Sun, Xiang & Sun, Yeneng, 2017. "Modeling infinitely many agents," Theoretical Economics, Econometric Society, vol. 12(2), May.
    8. Rafael Treibich, 2019. "Welfare egalitarianism with other-regarding preferences," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 52(1), pages 1-28, January.
    9. Martin Meier & Enrico Minelli & Herakles Polemarchakis, 2014. "Competitive markets with private information on both sides," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 257-280, February.
    10. Noguchi, Mitsunori, 2009. "Existence of Nash equilibria in large games," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 168-184, January.
    11. Yves Balasko, 2013. "Social demand functions in general equilibrium," Textos para discussão 609, Department of Economics PUC-Rio (Brazil).
    12. Balder, Erik J., 2008. "More on equilibria in competitive markets with externalities and a continuum of agents," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 575-602, July.
    13. Nieto-Barthaburu, Augusto, 2021. "Competitive General Equilibrium with network externalities," Journal of Mathematical Economics, Elsevier, vol. 94(C).
    14. Velez, Rodrigo A., 2016. "Fairness and externalities," Theoretical Economics, Econometric Society, vol. 11(1), January.
    15. 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.

    More about this item

    Keywords

    Competitive equilibrium; externalities; distributional economies;
    All these keywords.

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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