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Club theory and household formation

Hans Gersbach () and Hans Haller

Journal of Mathematical Economics, 2010, vol. 46, issue 5, 715-724

Abstract: The relationship between our general equilibrium model with multi-member households and club models with multiple private goods is investigated. The main distinction in the definitions consists in the equilibrium concepts. As a rule, competitive equilibria among households where no group of consumers can benefit from forming a new household and valuation equilibria prove equivalent in the absence of consumption externalities, but not in their presence.

Keywords: Household; behavior; Household; formation; General; equilibrium; Clubs (search for similar items in EconPapers)
Date: 2010
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Related works:
Working Paper: Club Theory and Household Formation (2009) Downloads
Working Paper: Club Theory and Household Formation (2008) Downloads
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