Existence of an equilibrium in arrowian markets for consumption externalities
Jean-Marc Bonnisseau
- Fonction : Auteur
- PersonId : 171804
- IdHAL : jean-marc-bonnisseau
- ORCID : 0000-0002-8156-2229
- IdRef : 033522448
Elena del Mercato
- Fonction : Auteur
- PersonId : 834362
- ORCID : 0000-0003-3963-5866
- IdRef : 231960387
Résumé
We study the existence of quasi-equilibria and equilibria for pure exchange economies with consumption externalities and Arrowian markets with personalized Lindahl prices. We provide examples showing first that quasi-equilibria and equilibria of the externality economy fail to exist under assumptions guaranteeing existence for economies without externalities. We show that the externality economy has identical equilibrium allocations of an appropriately defined constant returns to scale production economy without externalities. We exploit this equivalence to map sufficient conditions for the existence of quasi-equilibria and equilibria of the production economy into sufficient conditions of the pure exchange economy with externalities, thereby unveiling suitable irreducibility conditions and survival conditions.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Existence of an equilibrium in arrowian markets for consumption externalities
|
Résumé |
en
We study the existence of quasi-equilibria and equilibria for pure exchange economies with consumption externalities and Arrowian markets with personalized Lindahl prices. We provide examples showing first that quasi-equilibria and equilibria of the externality economy fail to exist under assumptions guaranteeing existence for economies without externalities. We show that the externality economy has identical equilibrium allocations of an appropriately defined constant returns to scale production economy without externalities. We exploit this equivalence to map sufficient conditions for the existence of quasi-equilibria and equilibria of the production economy into sufficient conditions of the pure exchange economy with externalities, thereby unveiling suitable irreducibility conditions and survival conditions.
|
Auteur(s) |
Jean-Marc Bonnisseau
1, 2
, Elena del Mercato
1, 2
, Paolo Siconolfi
3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
3
Graduate School of Business New York
( 1173067 )
- États-Unis
|
Audience |
Internationale
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Langue du document |
Anglais
|
Nom de la revue |
|
Date de publication |
2023-04
|
Volume |
209
|
Page/Identifiant |
105638
|
Domaine(s) |
|
DOI | 10.1016/j.jet.2023.105638 |
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