Symmetric Smooth Consumption Externalities

Hervé Crès (cres@hec.fr)
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Hervé Crès: ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique

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Abstract: Based on Arrow's model of a pure exchange economy with smooth consumption externalities, this paper studies how the internalization of external effects through a network of markets between agents introduces symmetry breakings in the set of equilibria. It shows indeed how identical agents can be treated asymmetrically by complete markets.

Keywords: Symmetric Smooth; Consumption (search for similar items in EconPapers)
Date: 1996-05
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03598166
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Citations: View citations in EconPapers (3)

Published in Journal of Public Economic Theory, 1996, 69 (2), pp.334 - 366. ⟨10.1006/jeth.1996.0058⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03598166

DOI: 10.1006/jeth.1996.0058

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