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Clubs and the Market: Continuum Economies Author info | Abstract | Publisher info | Download info | Related research | Statistics Bryan Ellickson (Department of Economics, UCLA)
Birgit Grodal (Institute of Economics, University of Copenhagen)
Suzanne Scotchmer (Department of Economics University of California, Berkeley)
William R. Zame (Department of Economics, UCLA)
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This paper defines a general equilibrium model with exchange and club formation. Agents trade multiple private goods widely in the market, can belong to several clubs, and care about the characteristics of the other members of their clubs. The space of agents is a continuum, but clubs are finite. It is shown that (i) competitive equilibria exist, and (ii) the core coincides with the set of equilibrium states. The central subtlety is in modeling club memberships and expressing the notion that membership choices are consistent across the population.
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Paper provided by EconWPA in its series Microeconomics with number
9802002.
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Date of creation: 23 Feb 1998Date of revision:
Handle: RePEc:wpa:wuwpmi:9802002Note: 65 pp; LaTex .texContact details of provider: Web page: http://129.3.20.41
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Find related papers by JEL classification: D2 - Microeconomics - - Production and Organizations D5 - Microeconomics - - General Equilibrium and Disequilibrium H4 - Public Economics - - Publicly Provided Goods
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
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Conley, John P. & Wooders, Myrna H., 1997.
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Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William Zame, 1997.
"Clubs and the Market: Large Finite Economies ,"
UCLA Economics Working Papers
766, UCLA Department of Economics.
[Downloadable!]
Other versions:
Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William R. Zame, 1999.
"Clubs and the Market: Large Finite Economies ,"
Discussion Papers
99-05, University of Copenhagen. Department of Economics.
[Downloadable!] Bryan Ellickson and Birgit Grodal, Suzanne Scotchmer, and William R.Zame., 1997.
"Clubs and the Market: Large Finite Economies ,"
Economics Working Papers
97-255, University of California at Berkeley.
Ellickson, Bryan & Grodal, Birgit & Scotchmer, Suzanne & Zame, William R., 2001.
"Clubs and the Market: Large Finite Economies ,"
Journal of Economic Theory ,
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Diamantaras, Dimitrios & Gilles, Robert P & Scotchmer, Suzanne, 1996.
"Decentralization of Pareto Optima in Economies with Public Projects, Nonessential Private Goods and Convex Costs ,"
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Suzanne Scotchmer, 1985.
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Berglas, Eitan & Pines, David, 1981.
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Scotchmer, Suzanne & Wooders, Myrna Holtz, 1987.
"Competitive equilibrium and the core in club economies with anonymous crowding ,"
Journal of Public Economics ,
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Suzanne Scotchmer and Greg Engl., 1992.
"The Core and the Hedonic Core: Equivalence and Comparative Statics ,"
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92-197, University of California at Berkeley.
Bewley, Truman F, 1981.
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Econometrica ,
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Gilles, Robert P. & Scotchmer, Suzanne, 1997.
"Decentralization in Replicated Club Economies with Multiple Private Goods ,"
Journal of Economic Theory ,
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[Downloadable!] (restricted)
Suzanne Scotchmer., 1996.
"Externality Pricing in Club Economies ,"
Economics Working Papers
96-246, University of California at Berkeley.
[Downloadable!]
Cole, Harold L. & Prescott, Edward C., 1997.
"Valuation Equilibrium with Clubs ,"
Journal of Economic Theory ,
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Other versions: Gretsky, Neil E. & Ostroy, Joseph M. & Zame, William R., 1999.
"Perfect Competition in the Continuous Assignment Model ,"
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Ellickson, Bryan, 1979.
"Competitive equilibrium with local public goods ,"
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Boadway, Robin, 1982.
"On the Method of Taxation and the Provision of Local Public Goods: Comment ,"
American Economic Review ,
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Dimitrios Diamantaras & Robert P. Gilles, 1994.
"The Pure Theory of Public Goods: Efficiency, Decentralization, and the Core ,"
Public Economics
9403001, EconWPA.
[Downloadable!]
Other versions:
Diamantaras, Dimitrios & Gilles, Robert P, 1996.
"The Pure Theory of Public Goods: Efficiency, Dencentralization, and the Core ,"
International Economic Review ,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 851-60, November.
Scotchmer, Suzanne, 1985.
"Profit-maximizing clubs ,"
Journal of Public Economics ,
Elsevier, vol. 27(1), pages 25-45, June.
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Greenberg, Joseph & Shitovitz, Benyamin, 1988.
"Consistent voting rules for competitive local public goods economies ,"
Journal of Economic Theory ,
Elsevier, vol. 46(2), pages 223-236, December.
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Hammond, Peter J. & Kaneko, Mamoru & Wooders, Myrna Holtz, 1989.
"Continuum economies with finite coalitions: Core, equilibria, and widespread externalities ,"
Journal of Economic Theory ,
Elsevier, vol. 49(1), pages 113-134, October.
[Downloadable!] (restricted)
Robert P. Gilles and Suzanne Scotchmer., 1995.
"Decentralization in Replicated Club Economies with Multiple Private Goods ,"
Economics Working Papers
95-243, University of California at Berkeley.
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Harold L. Cole & George J. Mailath & Andrew Postlewaite, 1998.
"Efficient non-contractible investments ,"
Staff Report
253, Federal Reserve Bank of Minneapolis.
[Downloadable!]
Other versions: Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William Zame, 1997.
"Clubs and the Market: Large Finite Economies ,"
UCLA Economics Working Papers
766, UCLA Department of Economics.
[Downloadable!]
Other versions:
Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William R. Zame, 1999.
"Clubs and the Market: Large Finite Economies ,"
Discussion Papers
99-05, University of Copenhagen. Department of Economics.
[Downloadable!] Bryan Ellickson and Birgit Grodal, Suzanne Scotchmer, and William R.Zame., 1997.
"Clubs and the Market: Large Finite Economies ,"
Economics Working Papers
97-255, University of California at Berkeley.
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.
[Downloadable!] (restricted)
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