Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/176092 
Authors: 
Year of Publication: 
2013
Series/Report no.: 
Texto para discussão No. 609
Publisher: 
Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia, Rio de Janeiro
Abstract: 
Social demand functions result from the budget constrained maximization of “social preferences” or “other regarding preferences.” These preferences are non-selfishin the sense that they also depend on other consumers’ wealth. This paper addresse sthe robustness to wealth externalities of the classical general equilibrium model with finite numbers of goods and consumers. The existence of equilibrium, the genericity of regular economies and, at those regular economies, the finite odd number of equilibria and the local continuity of equilibrium selection maps, and finally the identification (or diffeomorphism) of the equilibrium manifold with a Euclidean space are shown to be satisfied independently of the size of those wealth externalities provided total resources are variable
Subjects: 
social preferences
wealth externalities
general equilibrium
demand functions
JEL: 
C62
D11
D50
D51
Document Type: 
Working Paper

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