Externalities and a Measure Space of Consumers
نویسندگان
چکیده
This paper considers an exchange economy with a measure space of agents and consumption externalities, which take into account two possible external effects in consumers’ preferences: the dependence upon prices and other agents’ consumptions, respectively, as in Greenberg et al. [12] and Khan and Vohra [15] (see also Balder [4] for a general discussion). This allows to cover a general model of reference coalitions externalities, in which the agents’ preferences are influenced by the global (or the mean) consumption of the agents in the finitely many reference coalitions. Our paper provides a general existence theorem of equilibria that extends previous results by Schmeidler [21], in the case of fixed reference coalitions and Noguchi [17], for a more particular concept of reference coalitions.
منابع مشابه
More on equilibria in competitive markets with externalities and a continuum of agents
Equilibrium existence results are presented for competitive markets with externalities in price and consumption and a measure space of agents. These unify and extend [Balder, E.J., 2003. Existence of competitive equilibria in economies with a measure space of consumers and consumption externalities. Preprint, in press, electronically available at http://www.math.uu.nl/publications/ preprints/12...
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