search query: @author Haller, H. / total: 10
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Author: | Haller, H. |
Title: | Household decisions and equilibrium efficiency |
Journal: | International Economic Review
2000 : NOV, VOL. 41:4, p. 835-847 |
Index terms: | CONSUMER BEHAVIOUR ECONOMIC EFFICIENCY EQUILIBRIUM ANALYSIS HOUSEHOLD ECONOMICS |
Language: | eng |
Abstract: | A general equilibrium model is introduced where a household may consist of several members, each with individual preferences and/or resources. When households obey collective rationality, certain intrahousehold externalities can be fully internalized by the respective households so that competitive exchange among households is efficient. As a rule, however, such intrahousehold externalities are not fully internalized by individual household members acting in their personal interest so that competitive exchange among such individuals is only efficient in exceptional cases. |
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