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Consumption Externalities, Rental Markets and Purchase Clubs

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  • Suzanne Scotchmer

    (University of California, Berkeley)

Abstract

A premise of general equilibrium theory is that private goods are rival. Nevertheless, many private goods are shared, e.g., through barter, through co-ownership, or simply because one person’s consumption affects another person’s wellbeing. We analyze consumption externalities from the perspective of club theory, and argue that, provided consumption externalities are limited in scope, they can be internalized through membership fees to groups. Our main applications are to rental markets and “purchase clubs” in which members share the goods that they have individually purchased.

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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 03-25.

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Length: 33 pages
Date of creation: Jan 2002
Date of revision: May 2003
Handle: RePEc:kud:kuiedp:0325

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References

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  1. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  2. Yannis Bakos & Erik Brynjolfsson, 1997. "Bundling Information Goods: Pricing, Profits and Efficiency," Working Paper Series 199, MIT Center for Coordination Science.
  3. Bakos, Yannis & Brynjolfsson, Erik & Lichtman, Douglas, 1999. "Shared Information Goods," Journal of Law and Economics, University of Chicago Press, vol. 42(1), pages 117-55, April.
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Cited by:
  1. Emilson Caputo Delfino Silva & Richard Corne, 2014. "Prestige Clubs," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41th Brazilian Economics Meeting] 131, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  2. Hal R. Varian, 2005. "Copying and Copyright," Journal of Economic Perspectives, American Economic Association, vol. 19(2), pages 121-138, Spring.
  3. 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.
  4. Ruys, P.H.M. & Bruil, J. & Dix, H.G., 2007. "Modes of Governance in the Dutch Social Housing Sector," Discussion Paper 2007-001, Tilburg University, Tilburg Law and Economic Center.

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