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Competitive markets with externalities

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Author(s): Mitsunori Noguchi | William R. Zame

Journal: Theoretical Economics
ISSN 1555-7561

Volume: 1;
Issue: 2;
Start page: 143;
Date: 2006;
Original page

Keywords: Competitive equilibrium | externalities | distributional economies | D5

ABSTRACT
This paper presents a general model of a competitive market with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The model allows production and indivisible goods. Examples illustrate the generality and applicability of the results.
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