Abstract
The idea that prices influence preferences among commodity vectors goes back to the early works of Veblen [18] and Scitovsky [15]. More recently, Arrow and Hahn [3] formally considered a general equilibrium model for these types of consumers and proved the existence of a general equilibrium. From a comparative static viewpoint, these types of agents have been investigated by Samuelson [14], Kalman [10]and Allingham and Morishima [2], among others.
This work was supported in part by NSF Grant GS 18174. We thank K. J. Arrow, G. Chichilnisky, M. Hirsch, G. Laroque, and J. Wolf for helpful comments. P. J. Kalman is visiting Harvard from SUNY at Stony Brook.
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Kalman, P.J., Lin, KP., Wiesmeth, H. (1978). Equilibrium Theory in Veblen-Scitovsky Economies: Local Uniqueness, Stability and Existence. In: Green, J. (eds) Some Aspects of the Foundations of General Equilibrium Theory. Lecture Notes in Economics and Mathematical Systems, vol 159. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-95331-6_7
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