Club theory and household formation
Hans Gersbach () and
Journal of Mathematical Economics, 2010, vol. 46, issue 5, 715-724
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)
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Working Paper: Club Theory and Household Formation (2009)
Working Paper: Club Theory and Household Formation (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:46:y:2010:i:5:p:715-724
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