Regularity in an Exchange Economy with Other-Regarding Preferences and Private Transfers

Nico Lombardi (), Paolo Nerini (), Vincenzo Platino () and Antonio Villanacci ()
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Nico Lombardi: Hanse-Wissenschaftskolleg - Institute for Advanced Study
Paolo Nerini: Department of Economics, European University Institute (EUI)
Vincenzo Platino: University of Naples Federico II and CSEF, https://csef.it/people/vincenzo-platino/
Antonio Villanacci: University of Florence

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: We consider a pure exchange economy with a finite number of commodities and households, in which preferences are affected by the welfare of others, measured in terms of wealth, and households are allowed to transfer resources to one another. Economies are described by endowments of commodities and utility functions. We establish generic regularity, that is, for an open and dense subset of economies, the set of equilibria is finite and each equilibrium admits a local differentiable representation as a function of the fundamentals.

Keywords: Interdependent preferences; transfers; competitive equilibrium; regular economies. (search for similar items in EconPapers)
JEL-codes: C62 D50 D51 D62 (search for similar items in EconPapers)
Date: 2026-10-17
New Economics Papers: this item is included in nep-upt
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