General Equilibrium with Multi-Member Households and Production

21 Pages Posted: 6 Dec 2011

See all articles by Hans Gersbach

Hans Gersbach

ETH Zurich - CER-ETH -Center of Economic Reseaarch; IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR)

Hans H. Haller

Virginia Polytechnic Institute & State University - Department of Economics

Date Written: November 30, 2011

Abstract

We consider firms and multi-member households operating in a competitive market environment. Households are endowed with resources (commodity bundles) and shares of firm ownership. Household members are characterized by individual preferences, possibly with intra-household consumption externalities. Household decisions adhere to the collective rationality model. Existence of general equilibrium and validity of the first welfare theorem are investigated.

Keywords: household behavior, general equilibrium, production

JEL Classification: D100, D500, D620, D700

Suggested Citation

Gersbach, Hans and Haller, Hans H., General Equilibrium with Multi-Member Households and Production (November 30, 2011). CESifo Working Paper Series No. 3659. Available at SSRN: https://ssrn.com/abstract=1968844

Hans Gersbach (Contact Author)

ETH Zurich - CER-ETH -Center of Economic Reseaarch ( email )

Zürichbergstrasse 18
Zurich, 8092
Switzerland
+41 44 632 82 80 (Phone)
+41 44 632 18 30 (Fax)

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Hans H. Haller

Virginia Polytechnic Institute & State University - Department of Economics ( email )

3021 Pamplin Hall
Blacksburg, VA 24061
United States
540-231-7591 (Phone)
540-231-5097 (Fax)

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