Prices and Pareto Optima

Sjur Flåm and A. Jourani ()
Additional contact information
A. Jourani: Institut de Mathématiques de Bourgogne, Postal: Institut de Mathématiques de Bourgogne, Université de Bourgogne , B.P. 47870 , 21078 Dijon, France

No 2006:6, Working Papers from Lund University, Department of Economics

Abstract: We provide necessary conditions 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 accommodated. Public goods and material balances are accounted for as special instances of linear restrictions.

Keywords: first and second welfare theorem; weak and strong Pareto optimum; nonconvex tastes or technologies; public goods; externalities; local separation; subdifferentials; normal cones (search for similar items in EconPapers)
JEL-codes: C60 D50 D60 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2006-03-06
New Economics Papers: this item is included in nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Prices and Pareto Optima (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:lunewp:2006_006

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