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Club Theory and Household Formation

Hans Gersbach () and Hans Haller ()
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Hans Haller: Department of Economics, Virginia Polytechnic Institute and State University, Blacksburg, VA USA.

No 09/110, CER-ETH Economics working paper series from CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich

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 of the equilibrium concepts. As a rule, competitive equilibria among house- holds 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)
JEL-codes: D13 D50 D62 D71 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2009-07
New Economics Papers: this item is included in nep-net and nep-spo
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Related works:
Journal Article: Club theory and household formation (2010) Downloads
Working Paper: Club Theory and Household Formation (2008) Downloads
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