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Within a general equilibrium model, this paper identifies a novel animal welfare externality that occurs if the private … determining the efficient allocation. The animal welfare externality causes an inefficiently high quantity and an inefficiently …
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We provide a nonparametric 'revealed preference' characterization of rational household behavior in terms of the collective consumption model, while accounting for general (possibly non-convex) individual preferences. We establish a Collective Axiom of Revealed Preference (CARP), which provides...
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