Prices and Pareto Optima

Sjur Flåm and A. Jourani

Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen

Abstract: We provide necessary condition for Pareto optimum in economies where tastes or technologies may be nonconvex, nonsmooth, and affected by externalities. Firms can pursue own objectives, much like the consumers. Infinite-dimensional commodity spaces are accomodated. Public goods and material balances are accounted for as special instances of linear restrictions.

Keywords: GENERAL EQUILIBRIUM; MATHEMATICAL ANALYSIS; SOCIAL WELFARE (search for similar items in EconPapers)
JEL-codes: C60 D50 D60 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2000
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Working Paper: Prices and Pareto Optima (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:bereco:0800

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