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Competitive Markets, Collective Decisions and Group Formation

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  • Hans Gersbach
  • Hans Haller

Abstract

We consider a general equilibrium model where groups operating in a competitive market environment can have several members and make efficient collective consumption decisions. Individuals have the option to leave the group and make it on their own or join another group. We study the effect of these outside options on group formation, group stability, equilibrium existence, and equilibrium efficiency.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2003/wp-cesifo-2003-05/cesifo_wp953.pdf
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Bibliographic Info

Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 953.

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Date of creation: 2003
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Handle: RePEc:ces:ceswps:_953

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Keywords: household behavior; household formation; collective decision making; general equilibrium;

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References

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  1. Pierre-André Chiappori & Bernard Fortin & Guy Lacroix, 2001. "Marriage Market, Divorce Legislation and Household Labor Supply," CIRANO Working Papers 2001s-16, CIRANO.
  2. Haller, Hans, 2000. "Household Decisions and Equilibrium Efficiency," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(4), pages 835-47, November.
  3. Dreze, J H & Greenberg, J, 1980. "Hedonic Coalitions: Optimality and Stability," Econometrica, Econometric Society, vol. 48(4), pages 987-1003, May.
  4. Tayfun Sönmez & Suryapratim Banerjee & Hideo Konishi, 2001. "Core in a simple coalition formation game," Social Choice and Welfare, Springer, vol. 18(1), pages 135-153.
  5. Rochford, Sharon C., 1984. "Symmetrically pairwise-bargained allocations in an assignment market," Journal of Economic Theory, Elsevier, vol. 34(2), pages 262-281, December.
  6. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 63-90, January.
  7. Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William R. Zame, 1999. "Clubs and the Market," Econometrica, Econometric Society, vol. 67(5), pages 1185-1218, September.
  8. Bogomolnaia, Anna & Jackson, Matthew O., 2002. "The Stability of Hedonic Coalition Structures," Games and Economic Behavior, Elsevier, vol. 38(2), pages 201-230, February.
  9. Chiappori, Pierre-Andre, 1992. "Collective Labor Supply and Welfare," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 437-67, June.
  10. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  11. Crawford, Vincent P & Rochford, Sharon C, 1986. "Bargaining and Competition in Matching Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 329-48, June.
  12. Bennett, Elaine, 1988. "Consistent bargaining conjectures in marriage and matching," Journal of Economic Theory, Elsevier, vol. 45(2), pages 392-407, August.
  13. Bennett, Elaine, 1997. "Multilateral Bargaining Problems," Games and Economic Behavior, Elsevier, vol. 19(2), pages 151-179, May.
  14. Ellickson, Bryan & Grodal, Birgit & Scotchmer, Suzanne & Zame, William R., 2001. "Clubs and the Market: Large Finite Economies," Journal of Economic Theory, Elsevier, vol. 101(1), pages 40-77, November.
  15. Martine Quinzii, 1982. "Core and Competitive Equilibria with Indivisibilities," Cowles Foundation Discussion Papers 644, Cowles Foundation for Research in Economics, Yale University.
  16. Hans Gersbach & Hans Haller, 2003. "When Inefficiency Begets Efficiency," Discussion Papers 03-11, University of Copenhagen. Department of Economics.
  17. Jehiel, Philippe & Scotchmer, Suzanne, 2001. "Constitutional Rules of Exclusion in Jurisdiction Formation," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 393-413, April.
  18. Alkan, Ahmet & Gale, David, 1990. "The core of the matching game," Games and Economic Behavior, Elsevier, vol. 2(3), pages 203-212, September.
  19. Alkan, Ahmet, 1988. "Nonexistence of stable threesome matchings," Mathematical Social Sciences, Elsevier, vol. 16(2), pages 207-209, October.
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Citations

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Cited by:
  1. Gersbach, Hans & Haller, Hans, 2010. "Club theory and household formation," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 715-724, September.
  2. Hans Gersbach & Hans Haller, 2003. "When Inefficiency Begets Efficiency," Discussion Papers 03-11, University of Copenhagen. Department of Economics.
  3. Hans Gersbach & Hans Haller, 2011. "Bargaining cum voice," Social Choice and Welfare, Springer, vol. 36(2), pages 199-225, February.
  4. Michele Gori & Antonio Villanacci, 2011. "A bargaining model in general equilibrium," Economic Theory, Springer, vol. 46(3), pages 327-375, April.
  5. Hans Gersbach & Hans Haller, 2008. "Exit and Power in General Equilibrium," CESifo Working Paper Series 2369, CESifo Group Munich.
  6. Hans Gersbach & Hans Haller, 2005. "Bargaining Power and Equilibrium Consumption," CESifo Working Paper Series 1448, CESifo Group Munich.
  7. Hans Gersbach & Hans Haller, 2011. "General Equilibrium with Multi-Member Households and Production," CESifo Working Paper Series 3659, CESifo Group Munich.
  8. Hans Gersbach & Hans Haller, 2006. "Voice and Bargaining Power," CESifo Working Paper Series 1668, CESifo Group Munich.

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