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Endowment-regarding preferences
Journal of Mathematical Economics ( IF 1.3 ) Pub Date : 2020-12-01 , DOI: 10.1016/j.jmateco.2020.102454
Van-Quy Nguyen

We consider a pure exchange economy model with endowments-regarding regarding preferences, which means that demand functions and preferences depend not only on the own consumption of a consumer but also on other consumer's endowments. First, we study the particular case called wealth concern by Balasko (2015) when the consumers care about the wealth of the others. We generalise the result of Balasko by showing that most properties of the standard general equilibrium model without externalities are robust with respect to these kind of externalities if the external effect produced by only one agent is a wealth effect and not all. Next, we clarify under which sufficient conditions those properties hold true under the most general form of endowments externalities. Furthermore, we generalise the above sufficient condition to obtain generic regularity results in the economies with consumption and endowments externalities

中文翻译:

禀赋偏好

我们考虑具有禀赋的纯交换经济模型——关于偏好,这意味着需求函数和偏好不仅取决于消费者自己的消费,而且还取决于其他消费者的禀赋。首先,我们研究了 Balasko (2015) 称为财富关注的特殊情况,当消费者关心他人的财富时。我们通过展示没有外部性的标准一般均衡模型的大多数属性对于这些类型的外部性是稳健的,如果仅由一个代理产生的外部效应是财富效应而不是全部,则我们概括了 Balasko 的结果。接下来,我们阐明在最普遍的禀赋外部性形式下,这些性质在哪些充分条件下成立。此外,
更新日期:2020-12-01
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