Information, the internet and competitive equilibrium

Damien Gaumont and Philippe Michel

No 2001057, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: We analyse the consequences of an increase of information (say as a consequence of the internet), on the equilibrium of a pure exchange economy with n goods and m agents. We assume that such an increase modifies the characteristics of goods la Lancaster and has a positive effect on utility. We show that in equilibrium an increase of information increases a linear combination of the utilities of the agents. The different possibilities of gains and losses are explicitly analysed in an example with two goods and two agents.

JEL-codes: D50 D89 (search for similar items in EconPapers)
Date: 2001-12
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2001057

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