Externalities, consumption constraints and regular economies

Article dans une revue: 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 the 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.

Auteur(s)

Jean-Marc Bonnisseau, Elena L. del Mercato

Revue
  • Economic Theory
Date de publication
  • 2010
Mots-clés JEL
C62 D50 D62
Mots-clés
  • Externalities
  • Consumption constraints
  • Competitive equilibrium
  • Regular economies
Pages
  • 123-147
Version
  • 1
Volume
  • 44