This paper presents a general model of a competitive market with consumption externalities, and establishes the existence of equilibrium in the model, under assumptions comparable to those in classical models. The model allows production and indivisible goods. Examples illustrate the generality...

A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite...

Abstract Genericity analysis is widely used to show that desirable properties that fail in certain "knife-edge" economic situations nonetheless obtain in "typical" situations. For finite-dimensional spaces of parameters, the usual notion of genericity is full Lebesgue measure. For infinite...

A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite...

We study large finite club economies in which agents can belong to several clubs, and care about the characteristics of the other club members. Club memberships must be integer consistent in aggregate. We show that states in the approximate core can approximately be decentralized by prices for...

A number of authors have used formal models of computation to capture the idea of "bounded rationality" in repeated games. Most of this literature has used computability by a finite automaton as the standard. A conceptual difficulty with this standard is that the decision problem is not...

Two of the most important refinements of the Nash equilibrium concept for extensive form games with perfect recall are Selten's (1975) {\it perfect equilibrium\/} and Kreps and Wilson's (1982) more inclusive {\it sequential equilibrium\/}. These two equilibrium refinements are motivated in very...