In this paper, we extend the problem of decentralization of Pareto optima in an economy with production externalities to the case where the production capacities upon which Pareto optimality is defined may differ from the aggregate of the firms expectations about their production possibilities....

This paper focuses on the influence of the influence of the opening of a market of allowances, such as the European Union Emission Trading Scheme, on the general equilibrium of an economy. Assuming there existed an equilibrium before the opening of this new market, we describe the changes in the...

In this paper we prove an index formula for production economies with externalities. We allow for non-convexities in the production sector and set the firms behavior according to general pricing rules. We derive as corollaries existence of a general equilibrium in such a setting.

Each Party of the Kyoto Protocol on Climate Change must achieve quantified green-house gases emission reduction. one of the major policy instrument to be used to comply with these commitments is the opening of an emission allowances market. This paper analyzes, in the general equilibrium...

We prove that the degree of the equilibrium correspondence of an economy with increasing returns and external effects is equal to (−1)L−1 where L is the dimension of the space of goods. This allows us to infer existence, finiteness and uniqueness results.

In two recent contributions, Herbert Gintis introduces agent-based imitation models built upon evolutionary bargaining games where agents use private prices as strategies. He reports surprising convergence results for simulations performed in exchange economies where goods are strict complement....

This paper focuses on the influence on the general equilibrium of an economy of the opening of markets of allowances, such as the European Union Emission Trading Scheme. Assuming there existed an equilibrium before the opening of allowances' markets, we describe the changes in the firms behavior...

This paper studies the welfare improvement properties of a market of allowances in an economy with a single type of externality. We show that thanks to the opening of such a market the Pareto optima can be decentralized as marginal pricing equilibria. However, the set of equilibria is much...

This paper presents an agent-based model of disaggregated economic systems with endogenous growth features named Lagon GeneriC. This model is thought to represent a proof of concept that dynamically complete and highly disaggregated agent-based models allow to model economies as complex...

We formulate the problem of computing time in discrete dynamical agent-based models in the context of socio-economic modeling. For such formulation, we outline a simple solution. This requires minimal extensions of the original untimed model. The proposed solution relies on the notion of...