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Equilibrium concepts in the large-household model

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  • Zhu, Tao

    () (Department of Economics, Cornell University, and Department of Economics, Glasgow University)

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Abstract

This 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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File URL: http://econtheory.org/ojs/index.php/te/article/viewFile/20080257/1823/89
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Bibliographic Info

Article provided by Econometric Society in its journal Theoretical Economics.

Volume (Year): 3 (2008)
Issue (Month): 2 (June)
Pages:

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Handle: RePEc:the:publsh:315

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Web page: http://econtheory.org

Related research

Keywords: Search; large household; equilibrium concept; team;

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