Social objectives in general equilibrium

Research output: Contribution to journalArticlepeer-review


I consider an exchange economy in which each agent's preferences are given by Ui=ui+θF, where ui is a standard utility function, F is a social objective function and θ is the weight F receives. Both F and θ are common to all individuals. I show that F's equilibrium value may be a decreasing function of θ. I also show that if F is a social welfare function whose arguments are the ui’s, then the economy's equilibria are independent of θ.

Original languageAmerican English
Pages (from-to)99-102
Number of pages4
JournalEconomics Letters
StatePublished - 1 Nov 2016


  • Consumption externalities
  • General equilibrium
  • Other-regarding preferences
  • Social objectives

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics


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