Competitive equilibrium when preferences change over time

B-Tier
Journal: Economic Theory
Year: 2006
Volume: 27
Issue: 3
Pages: 679-690

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We show the existence of a competitive equilibrium in an economy with many consumers whose preferences may change over time. The demand correspondence of an individual consumer is determined by the set of subgame-perfect equilibrium outcomes in his intrapersonal game. For additively separable preferences with concave period utility functions that are unbounded above, this demand correspondence will satisfy the usual boundary conditions. Whenever consumers can recall their own mixed actions, this correspondence is convex-valued. This ensures the existence of a symmetric competitive equilibrium. Copyright Springer-Verlag Berlin/Heidelberg 2006

Technical Details

RePEc Handle
repec:spr:joecth:v:27:y:2006:i:3:p:679-690
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25