Clubs and the Market: Continuum Economies

Bryan Ellickson and Birgit Grodal, Suzanne Scotchmer, and William R. Zame.
Authors registered in the RePEc Author Service: William R. Zame and Suzanne Scotchmer ()

No 97-254, Economics Working Papers from University of California at Berkeley

Abstract: This paper defines a general equilibrium model with exchange and club formation. Agents trade multiple private goods widely in the market, can belong to several clubs, and care about the characteristics of the other members of their clubs. The space of agents is a continuum, but clubs are finite. It is shown that (i) competitive equilibria exist, and (ii) the core coincides with the set of equilibrium states.
The central subtlety is in modeling club memberships and expressing the notion that membership choices are consistent across the population.

Date: 1997-04-01
View citations in EconPapers

Downloads: (external link)
http://econwpa.wustl.edu/eprints/mic/papers/9802/9802002.abs link to EconWPA (text/html)

Related works:
Working Paper: Clubs and the Market: Continuum Economies (1997)
Working Paper: Clubs and the Market: Continuum Economies (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:ucb:calbwp:97-254

Ordering information: This working paper can be ordered from
IBER, F502 Haas Building, University of California, Berkeley CA 94720-1922

Access Statistics for this paper

More papers in Economics Working Papers from University of California at Berkeley
Address: University of California at Berkeley, Berkeley, CA USA
Contact information at EDIRC.
Series data maintained by Christopher F. Baum ().