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When inefficiency begets efficiency

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  • Hans Gersbach

    ()

  • Hans Haller

    ()

Abstract

Collective consumption decisions taken by the members of a household may prove inefficient. The impact on market performance depends on whether household inefficiencies are caused by inefficient net trades with the market or by inefficient distribution of resources within households. Inefficient internal distribution always results in inefficient equilibrium allocations. This leads us to consider competitive forces as disciplinary device for households. Competition of households for both resources and members can eliminate or reduce inefficient internal distribution. Copyright Springer-Verlag Berlin/Heidelberg 2005

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File URL: http://hdl.handle.net/10.1007/s00199-004-0469-5
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 25 (2005)
Issue (Month): 1 (01)
Pages: 105-121

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Handle: RePEc:spr:joecth:v:25:y:2005:i:1:p:105-121

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Web page: http://link.springer.de/link/service/journals/00199/index.htm

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Related research

Keywords: General equilibrium; Household decisions; Household formation.;

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References

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  1. Hans Gersbach & Hans Haller, 2003. "Competitive Markets, Collective Decisions and Group Formation," CESifo Working Paper Series 953, CESifo Group Munich.
  2. Chiappori, Pierre-Andre, 1992. "Collective Labor Supply and Welfare," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 437-67, June.
  3. Becker, Gary S., 1978. "The Economic Approach to Human Behavior," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226041124, May.
  4. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  5. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 63-90, January.
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Cited by:
  1. Laurens Cherchye & Bram De Rock & Vincenzo Platino, 2010. "Private versus public consumption within groups : testing the nature of goods from aggregate data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00543999, HAL.
  2. Gersbach, Hans & Haller, Hans, 2006. "Clubs and Households," CEPR Discussion Papers 5687, C.E.P.R. Discussion Papers.
  3. Michele Gori & Antonio Villanacci, 2011. "A bargaining model in general equilibrium," Economic Theory, Springer, vol. 46(3), pages 327-375, April.
  4. Hans Gersbach & Hans Haller, 2003. "Competitive Markets, Collective Decisions and Group Formation," CESifo Working Paper Series 953, CESifo Group Munich.
  5. Hans Gersbach & Hans Haller, 2009. "Club Theory and Household Formation," CER-ETH Economics working paper series 09/110, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  6. Gersbach, Hans & Haller, Hans, 2011. "Groups, collective decisions and markets," Journal of Economic Theory, Elsevier, vol. 146(1), pages 275-299, January.

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