Prices and Pareto Optima

Arbeitspapier

We provide necessary conditions for Pareto optimum in economies where tastes or technologies may be nonconvex, nonsmooth, and affected by externalities. Firms can pursue own objectives, much like the consumers. Infinite-dimensional commodity spaces are accommodated. Public goods and material balances are accounted for as special instances of linear restrictions.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 2006:6

Classification and Topics

• Classification: Wirtschaft ; Mathematical Methods; Programming Models; Mathematical and Simulation Modeling: General ; General Equilibrium and Disequilibrium: General ; Welfare Economics: General
• Subject: first and second welfare theorem ; weak and strong Pareto optimum ; nonconvex tastes or technologies ; public goods ; externalities ; local separation ; subdifferentials ; normal cones

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Flam, Sjur ; Jourani, A.
• Event: Veröffentlichung
• (who): Lund University, School of Economics and Management, Department of Economics
• (where): Lund
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/259927
• Last update: 10.03.2025, 11:42 AM CET