Externalities in Private Ownership Production Economies with Possibility Functions. An Existence Result

Vincenzo Platino

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: We consider a private ownership production economy with consumption and production externalities. Each household is characterized by a consumption set described by a possibility function, an endowment of commodities, and preferences described by a utility function. Each firm is owned by the household and it is characterized by technology desribed by a transformation function. Describing equlibria in terms of first order conditions and market clearing conditions, and using a homotopy approach, we prove the non-emptiness and compactness of the set of competitive equilibria with consumptions and prices strictly positive.

Keywords: Externalities; Private ownership economy; Competitive equilibrium; Homotopy approach. (search for similar items in EconPapers)
JEL-codes: C62 D50 D51 D62 (search for similar items in EconPapers)
Date: 2019-11-11
New Economics Papers: this item is included in nep-ore and nep-upt
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Related works:
Journal Article: Externalities in private ownership production economies with possibility functions. An existence result (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:549

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