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caractéristique des biens

Recherches Économiques de Louvain/ Louvain Economic Review (1)

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Characteristics of good and competitive equilibrium
Damien Gaumont, Philippe Michel†
Journal:

Recherches Économiques de Louvain/ Louvain Economic Review / Volume 70 / Issue 3 / 2004

Published online by Cambridge University Press:

17 August 2016, pp. 363-368

Print publication:

2004
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We analyse the consequences of a change of the characteristics of goods due to new information on the equilibrium of a pure exchange economy with n goods and m agents. Some changes of the characteristics of goods à la Lancaster have a positive effect on utility. In the general competitive equilibrium, some agents gain but others may lose. Nevertheless there is an increase of a linear combination of the utilities of the agents. The different possibilities of gains and losses are explicitly analysed in an example with two goods and two agents.