Social objectives in general equilibrium

被引:0
作者
Rachmilevitch, Shiran [1 ]
机构
[1] Univ Haifa, Dept Econ, IL-31905 Haifa, Israel
关键词
General equilibrium; Consumption externalities; Other-regarding preferences; Social objectives;
D O I
10.1016/j.econlet.2016.09.033
中图分类号
F [经济];
学科分类号
02 ;
摘要
I consider an exchange economy in which each agent's preferences are given by U-i = u(i) + theta F, where u(i) is a standard utility function, F is a social objective function and 0 is the weight F receives. Both F and 0 are common to all individuals. I show that F's equilibrium value may be a decreasing function of theta. I also show that if F is a social welfare function whose arguments are the u(i)'s, then the economy's equilibria are independent of theta. (C) 2016 Elsevier B.V. All rights reserved.
引用
收藏
页码:99 / 102
页数:4
相关论文
共 5 条
[1]   ERC: A theory of equity, reciprocity, and competition [J].
Bolton, GE ;
Ockenfels, A .
AMERICAN ECONOMIC REVIEW, 2000, 90 (01) :166-193
[2]   THE CONSISTENCY OF WELFARE JUDGMENTS WITH A REPRESENTATIVE CONSUMER [J].
DOW, J ;
WERLANG, SRD .
JOURNAL OF ECONOMIC THEORY, 1988, 44 (02) :269-280
[3]   Other-Regarding Preferences in General Equilibrium [J].
Dufwenberg, Martin ;
Heidhues, Paul ;
Kirchsteiger, Georg ;
Riedel, Frank ;
Sobel, Joel .
REVIEW OF ECONOMIC STUDIES, 2011, 78 (02) :613-639
[4]  
Edgeworth F. Y., 1881, MATH PSYCHICS ESSAY
[5]   Comparative statics of altruism and spite [J].
Milchtaich, Igal .
GAMES AND ECONOMIC BEHAVIOR, 2012, 75 (02) :809-831