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The Equilibrium ManifoldPostmodern Developments in the Theory of General Economic Equilibrium$
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Yves Balasko

Print publication date: 2009

Print ISBN-13: 9780262026543

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262026543.001.0001

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Economies with Price-Dependent Utility Functions

Economies with Price-Dependent Utility Functions

Chapter:
(p.125) 6 Economies with Price-Dependent Utility Functions
Source:
The Equilibrium Manifold
Author(s):

Yves Balasko

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262026543.003.0262

This chapter illustrates the versatility of the equilibrium manifold approach by applying it to a version of the Arrow–Debreu model where preferences are price-dependent. That model is shown to have the same properties as the standard Arrow–Debreu model with price-independent preferences, provided total resources are variable. That model plays an important role in the analysis of the temporary equilibrium model, which is taken up in Chapter 9.

Keywords:   equilibrium manifold approach, Arrow–Debreu model, price-dependent preference

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