Equilibrium concepts in the large-household model
AbstractThis paper formulates equilibrium concepts in the large (non atomic) household model under the team notion, characterizes a class of equilibrium allocations, explores whether an equilibrium allocation in the large-household model is a limit of equilibrium allocations in the finite-household model, and establishes existence of equilibrium allocations generated by generalized Nash bargaining.
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Bibliographic InfoArticle provided by Econometric Society in its journal Theoretical Economics.
Volume (Year): 3 (2008)
Issue (Month): 2 (June)
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Web page: http://econtheory.org
Search; large household; equilibrium concept; team;
Find related papers by JEL classification:
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
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- Rocheteau, Guillaume, 2012.
"The cost of inflation: A mechanism design approach,"
Journal of Economic Theory,
Elsevier, vol. 147(3), pages 1261-1279.
- Guillaume Rocheteau, 2011. "The cost of inflation: a mechanism design approach," Working Paper 1103, Federal Reserve Bank of Cleveland.
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