Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259927 
Year of Publication: 
2006
Series/Report no.: 
Working Paper No. 2006:6
Publisher: 
Lund University, School of Economics and Management, Department of Economics, Lund
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.
Subjects: 
first and second welfare theorem
weak and strong Pareto optimum
nonconvex tastes or technologies
public goods
externalities
local separation
subdifferentials
normal cones
JEL: 
C60
D50
D60
Document Type: 
Working Paper

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