Social demand functions in general equilibrium

Arbeitspapier

Social demand functions result from the budget constrained maximization of “social preferences” or “other regarding preferences.” These preferences are non-selfishin the sense that they also depend on other consumers’ wealth. This paper addresse sthe robustness to wealth externalities of the classical general equilibrium model with finite numbers of goods and consumers. The existence of equilibrium, the genericity of regular economies and, at those regular economies, the finite odd number of equilibria and the local continuity of equilibrium selection maps, and finally the identification (or diffeomorphism) of the equilibrium manifold with a Euclidean space are shown to be satisfied independently of the size of those wealth externalities provided total resources are variable

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Texto para discussão ; No. 609

Classification and Topics

• Classification: Wirtschaft ; Existence and Stability Conditions of Equilibrium ; Consumer Economics: Theory ; General Equilibrium and Disequilibrium: General ; Exchange and Production Economies
• Subject: social preferences ; wealth externalities ; general equilibrium ; demand functions

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Balasko, Yves
• Event: Veröffentlichung
• (who): Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia
• (where): Rio de Janeiro
• (when): 2013

Further information

• Handle: http://hdl.handle.net/10419/176092
• Last update: 10.03.2025, 11:41 AM CET