EconPapers    
Economics at your fingertips  
 

Social objectives in general equilibrium

Shiran Rachmilevitch

Economics Letters, 2016, vol. 148, issue C, 99-102

Abstract: I consider an exchange economy in which each agent’s preferences are given by Ui=ui+θF, where ui is a standard utility function, F is a social objective function and θ is the weight F receives. Both F and θ are common to all individuals. I show that F’s equilibrium value may be a decreasing function of θ. I also show that if F is a social welfare function whose arguments are the ui’s, then the economy’s equilibria are independent of θ.

Keywords: General equilibrium; Consumption externalities; Other-regarding preferences; Social objectives (search for similar items in EconPapers)
JEL-codes: D50 D62 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176516303925
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:148:y:2016:i:c:p:99-102

DOI: 10.1016/j.econlet.2016.09.033

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Nithya Sathishkumar ().

 
Page updated 2021-03-28
Handle: RePEc:eee:ecolet:v:148:y:2016:i:c:p:99-102