Clubs and Households

Hans Gersbach and Hans Haller

No 5687, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The relationship between our general equilibrium model with multimember households and club models with multiple private goods is investigated. The main distinction in the definitions consists of 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. We provide several examples and applications.

Keywords: Household behaviour; Household formation; General equilibrium; Clubs; Consumption externalities (search for similar items in EconPapers)
JEL-codes: D13 D50 D62 D71 (search for similar items in EconPapers)
Date: 2006-05
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