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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 a disciplinary device for households. Competition of households for both resources and members can eliminate or reduce inefficient internal distribution.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2004/wp-cesifo-2004-05/cesifo1_wp1197.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 1197.

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Date of creation: 2004
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Handle: RePEc:ces:ceswps:_1197

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  1. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 63-90, January.
  2. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  3. Chiappori, P.A., 1989. "Collective Labour Supply and Welfare," DELTA Working Papers 89-07, DELTA (Ecole normale supérieure).
  4. Hans Gersbach & Hans Haller, 2002. "Competitive Markets, Collective Decisions and Group Formation," Discussion Papers 02-11, University of Copenhagen. Department of Economics.
  5. Becker, Gary S., 1978. "The Economic Approach to Human Behavior," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226041124, April.
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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," Documents de travail du Centre d'Economie de la Sorbonne 10090, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  2. 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.
  3. Gersbach, Hans & Haller, Hans, 2006. "Clubs and Households," CEPR Discussion Papers 5687, C.E.P.R. Discussion Papers.
  4. Gersbach, Hans & Haller, Hans, 2011. "Groups, collective decisions and markets," Journal of Economic Theory, Elsevier, vol. 146(1), pages 275-299, January.
  5. Michele Gori & Antonio Villanacci, 2011. "A bargaining model in general equilibrium," Economic Theory, Springer, vol. 46(3), pages 327-375, April.
  6. Hans Gersbach & Hans Haller, 2002. "Competitive Markets, Collective Decisions and Group Formation," Discussion Papers 02-11, University of Copenhagen. Department of Economics.

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