Equilibrium Concepts in the Large Household Model
AbstractThis paper formulates equilibrium concepts in the large (non atomic) household model under the team interpretation, characterizes a class of equilibrium allocations, explores whether an equilibrium allocation in the large-household model has a foundation in the finite-household model, and establishes the existence of equilibrium allocations generated by generalized Nash bargaining.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 7444.
Date of creation: 2007
Date of revision:
Search; Large household; Equilibrium concept; Team;
Find related papers by JEL classification:
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
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